In July 2019, the Pensions Regulator said the number of DB transfers skyrocketed by 163% over the last two years, but the Financial Conduct Authority has admitted it is unhappy with the number of firms offering poor advice in the sector.
The uncertainty of the market is compounded by the fact IFAs are regularly exiting the sector due to rising professional indemnity insurance premiums.
To find out more, click on IA’s latest UK regional piece – what’s next for the DB pension transfers?
