Government urged to ban DB to DC transfers; call dubbed 'not practical'

Widespread pension changes first announced by Chancellor George Osborne at Budget 2014 have "shifted" attitudes on the benefits of switching out of final salary pensions, according to some advisers. But City Noble director Eamonn O'Connor said few people would benefit from transferring, and pressed the government to keep collective and individual pensions distinct. He said: "Both The Pensions Regulator and the Financial Conduct Authority are consulting on how best to implement the requirement that those exchanging ‘safeguarded' (i.e. DB) for ‘flexible' (i.e. DC) benefits, presumably t...