Warning on mass exodus from DB schemes

Hargreaves Lansdown pensions analyst Laith Khalaf criticised the move, claiming it restricted member choice without delivering any benefits. He says: "It would also exclude final salary scheme members from taking their pension as and when they want, using the new flexible pension rules arriving next April." He also warns of a potential "firesale" of final salary liabilities as companies offer members incentives to transfer out "while they still can". "The Pensions Regulator could be in for a busy time making sure all such transactions are conducted properly and members' interests a...