Nearly one-in-five Defined Benefit Scheme members given access to free financial advice have transferred out of their scheme to access flexible retirement options available through a defined contribution (DC) pot, according to research by Willis Towers Watson.

Proposals have been outlined by the FCA to make advising on the conversion or transfer of safeguarded pension benefits a regulated activity. Read more...

The Financial Services Authority has published new guidance today which may mean advisers will be less able to recommend a pension transfer.