Government drops mandatory advice for small DB transfers

clock

The government has abandoned the requirement for defined benefit (DB) members to take regulated advice before transferring a small pot into a defined contribution (DC) scheme.

Originally, this exemption was set to be applied to total pension wealth of a maximum of £30,000, but Lord Newby said this limit would be curtailed to an equivalent transfer value instead. Durin...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Surplus provisions in bill will 'reset' how employers view DB schemes

Surplus provisions in bill will 'reset' how employers view DB schemes

Broadstone says sponsors must be encouraged to see DB schemes as long-term assets

Holly Roach
clock 15 April 2026 • 1 min read
UK market volatility adding 'uncertainty' to DB transfer redress costs

UK market volatility adding 'uncertainty' to DB transfer redress costs

First Actuarial points to a ‘great deal’ of redress variance in March

Holly Roach
clock 15 April 2026 • 1 min read
Group of employers launch coalition to expand workplace savings access

Group of employers launch coalition to expand workplace savings access

Coalition aims to boost take-up in workplace schemes and improve employees’ financial resilience

Martin Richmond
clock 15 April 2026 • 3 min read
Trustpilot