Half of advisers refuse to implement pension transfers out of defined benefit (DB) schemes amid worries the regulator would hold them to account further down the line, according to research.
A survey commissioned by the Association of Professional Financial Advisers (APFA) found just a quarter of advisers are willing to undertake pension transfer requests from DB scheme members. But more than half said they are not. APFA director general Chris Hannant (pictured) said the findings pointed to uncertainty among advisers around the regulatory implications of some of the government's pension freedoms. The government reformed the retirement income landscape over the last year to allow savers in defined contribution (DC) schemes access to their pension savings from age 55. ...
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