Summer Budget: Government introduces tax break for financial advice on DB to DC transfer exercises

Jonathan Stapleton
clock

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

This follows the Pension Schemes Act 2015, which set out new rules surrounding DB to DC transfer. Under these rules members are required to obtain appropriate independent advice from a Financial...

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 Risk Reduction

Black Arrow Group scheme secures £7m buy-in with PIC

Black Arrow Group scheme secures £7m buy-in with PIC

Transaction secures the benefits of the 61 scheme members not previously insured

Jonathan Stapleton
clock 19 February 2026 • 2 min read
Section of Sopra Steria scheme completes £113m full buy-in with PIC

Section of Sopra Steria scheme completes £113m full buy-in with PIC

BPA transaction secures the benefits of all the 355 scheme members

Martin Richmond
clock 18 February 2026 • 2 min read
IBM I.T Solutions scheme completes £700m buy-in with Standard Life

IBM I.T Solutions scheme completes £700m buy-in with Standard Life

BPA transaction secures the benefits of more than 3,600 pensioners and deferred members

Martin Richmond
clock 18 February 2026 • 2 min read
Trustpilot