Freedom and choice is producing unexpected results across DB and DC schemes
Transfer values have fallen to their lowest point for almost a year, according to Xafinity.
The number of transfer value requests in defined benefit (DB) schemes doubled from January to July this year according to research from Xafinity.
Most schemes are letting members take pots as cash but remain reluctant to offer other freedoms
No one can predict the future with certainty but this does not stop people from trying. The media is full of pundits claiming history will turn right when it in fact turns left.
The Financial Ombudsman Service has ordered Legal and General (L&G) to compensate two customers who transferred out of defined benefit schemes following "unsuitable" advice.
Transfers from defined benefit (DB) to defined contribution (DC) schemes as a result of changes introduced in the Budget could cut £15bn from FTSE 350 scheme liabilities, says Hymans Robertson.
The Financial Services Authority has confirmed it will toughen up rules on transfer value analysis.
The Society of Pension Consultants has backed proposals from the Financial Services Authority to revise assumptions used in transfer value analysis.