'Change the law' so trustees cannot shrug off adviser recommendations - PFS

Money Minder managing director and Chartered financial planner Ray Black told Professional Adviser that a 62 year-old man came to him to obtain his pension transfer value from a defined benefit (DB) scheme he had from working in a factory some years ago. At the time, the man was living with his partner, though the two were not married, and was £30,000 in debt. He had suggested he wanted to use his pension money to pay off his debt. The transfer valued offered was around £130,000. Black felt the actuaries had valued the pension at less than it was worth, arguing the value should have b...