Work and Pensions Committee proposals to relax the rules for transferring out of defined benefit (DB) schemes could lead to additional liability risk for financial advisers, adviser Greg Heath has warned.
In the House of Commons Work and Pensions Committee report, Defined benefit pension schemes, published today, MPs called on the government to relax the rules for taking small DB pension entitlements as lump sums. But Derbyshire Booth managing director and IFA Heath warned there was a "huge problem" with the report on the future of DB schemes and that the risk to advisory firms is too great. The report recommended the government consult on relaxing the rules for taking small DB pension entitlements as lump sums in the forthcoming Green Paper, which is expected in early 2017, arguing ...
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