A study conducted by Willis Towers Watson has identified that over half of defined benefit (DB) members who received independent financial advice chose to transfer their benefits out of their DB Scheme. The increase was credited to members wanting to access greater flexibility following the freedom and choice reforms in 2015. The study also found...

Former Pensions Minister Steve Webb (now director of policy at Royal London) has called upon the Pensions Regulator (tPR) to consider whether the transfer process can be simplified and whether schemes should be required to provide all relevant information when a Cash Equivalent Transfer Value (CETV) is first requested.