Scottish Widows has launched a 'digital toolkit' to support advisers with defined benefit (DB) transfer advice following a surge in transfer requests.
The toolkit, which is available to use free of charge through its site, offers advisers best practice DB advice case studies as well as templates to help them talk through the main considerations when transferring out of a DB pension.
It also offers a checklist of information and requirements when requesting a transfer report.
Updates to information will also be provided through social media and its e-newsletters, while Scottish Widows will be providing a special edition of its TechTalk publication on the subject.
The provider said it had received 450 requests for transfer value analysis system (TVAS) reports last month and had seen a 170% increase in the number of requests made in the first quarter of 2017 compared with 2016.
It suggested one of the reasons behind the surge in transfers was consumers wanting to take advantage of options offered by the pension freedoms.
The provider had also surveyed more than 5,100 people online in April 2016, as part of its annual retirement report and found an increasing number of people with DB pensions were confused about their options and wanted financial advice.
In addition, 42% of those with DB pensions had multiple pots, which the provider said could make it even more challenging for advisers to advice on the transfers.
Distribution director Ronnie Taylor (pictured) said: "The surge in demand for our DB support has been staggering. The increased interest has been mainly from people looking to access their funds flexibly, pass on funds to beneficiaries. Of course, continued financial market conditions mean transfer values for many in a DB scheme are higher than ever before.
"However moving out of a DB scheme may not be the right option for everyone, so we've created the digital toolkit for advisers, so they have expert advice at their fingertips for clients."
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