DB transfer complaints: A difficult balancing act for all parties

Since the introduction of pension freedoms in April 2015, the number of transfers from defined benefit (DB) to defined contribution schemes has increased as members take advantage of flexible access rules and greater autonomy over pension investments. This makes the DB transfer market significant. The Financial Conduct Authority (FCA) and the Pensions Ombudsman (PO) maintain that it is in most people's interests to keep their DB pension, although they appreciate a transfer can have benefits. A transfer can carry risks for a member and has, historically, been fertile ground for scams. ...