Over one third unsatisfied with DB transfers

Results from FCA survey finds few have discussed transfers with an adviser

Jasmine Urquhart
clock • 2 min read
OAC head of redress solutions Brian Nimmo: DB members need to be sure they are making the right decision when transferring
Image:

OAC head of redress solutions Brian Nimmo: DB members need to be sure they are making the right decision when transferring

Just over two thirds (69%) of those who transferred their defined benefit (DB) pension to a defined contribution (DC) pot in the past four years were satisfied with their decision, OAC analysis of a survey has found.

Looking at data from the Financial Conduct Authority's (FCA) Financial Lives Survey, the consultancy found 10% of those with DB pots had considered a transfer, but of these just 36% had discussed t...

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 Defined Benefit

Record low mortality in Q3, CMI says

Record low mortality in Q3, CMI says

Overall mortality in first three quarters of 2025 lower than same period of any other year

Jasmine Urquhart
clock 09 October 2025 • 1 min read
TPT to launch run-on DB superfund

TPT to launch run-on DB superfund

Organisation plans to distribute surplus to scheme members from year five onwards

Holly Roach
clock 09 October 2025 • 5 min read
Smaller DB schemes face greater exposure to climate risk, Broadstone finds

Smaller DB schemes face greater exposure to climate risk, Broadstone finds

Simplified investment strategies mean smaller schemes face nearly twice the risk of negative performance

Holly Roach
clock 07 October 2025 • 1 min read
Trustpilot