Db transfers

As one of the biggest IFA firms withdraws from the transfer market, Kim Kaveh gauges views on whether the move will impact scheme de-risking plans.

National financial advisory firm LEBC Group has stopped offering advice on defined benefit transfers after a review from the Financial Conduct Authority (FCA).

Royal London's new business pension sales fell by 4% over the course of a year primarily due to a slowdown in defined benefit (DB) transfers, the firm's half year results reveal.

The Financial Conduct Authority (FCA) is consulting on plans to ban contingent charging on defined benefit (DB) transfer advice for the second time in less than a year.

Pension transfers have passed the £60bn mark as more than a third of a million people access their defined benefit (DB) pots, a Freedom of Information (FOI) request has revealed.

The FCA will carry out further work on defined benefit (DB) transfers after it revealed "concerning and disappointing" findings from its marketwide data gathering exercise.

Financial advice firms that did not respond to the Financial Conduct Authority's (FCA) market-wide defined benefit (DB) transfer questionnaire could see their regulatory permissions revoked.

This week's top stories included TPT Retirement Solutions consolidating the £30m Hinckley and Rugby Building Society's defined benefit scheme, and Guy Opperman becoming the second-longest serving pensions minister.

British Steel financial adviser and former managing director of Active Wealth UK Darren Reynolds advised a group of people from the Trinity Mirror pension scheme to transfer out of their defined benefit (DB) pensions.

This week's top stories included warnings that defined benefit (DB) transfers could become more difficult for trustees to process after regulatory register changes.