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

News Digest: Asset managers hit hurdle in efforts to avoid Europe's ESG rules

News Digest: Asset managers hit hurdle in efforts to avoid Europe's ESG rules

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 04 June 2026 • 1 min read
Industry and government must 'do more' to educate savers about retirement costs

Industry and government must 'do more' to educate savers about retirement costs

Pension experts say the sector must help savers understand their own targets and how to reach them

Holly Roach
clock 03 June 2026 • 4 min read
Savers place increased emphasis on accuracy to build trust

Savers place increased emphasis on accuracy to build trust

Trafalgar House index shows one quarter of savers valued accurate information as integral trust factor

Martin Richmond
clock 03 June 2026 • 2 min read
Trustpilot