DC

Some providers that insist regulated advice be taken by customers seeking to transfer out of their pensions are unsure why they require it, research suggests.

Pension transfer requests out of defined benefit (DB) schemes doubled post pension freedoms, according to research from one provider.

The government has introduced an income tax exemption for regulated financial advice provided as part of employer-led transfer exercises from defined benefit (DB) to defined contribution (DC) pension schemes.

Pension transfers over £30,000 must be carried out or checked by a pension transfer specialist, the Financial Conduct Authority (FCA) has said in rules out today.

'Retirement ready' clients need long-term advice

How to operate in the new pension transfer world

The government is being urged to ban defined benefit to (DB) to defined contribution (DC) pension transfers to minimise "complexity and confusion" once the 6 April retirement 'freedoms' are rolled out.

How to deal with insistent clients

HSBC Global Asset Management has introduced a range of multi-asset retirement funds for the defined contribution (DC) pension marketplace.

All defined benefit (DB) pension transfers after 6 April will be regulated by the Financial Conduct Authority (FCA) to ensure mandatory advice has been taken and fully understood.