Pension providers issue stark DB transfer warning to members

Hannah Godfrey
clock • 2 min read

UK regulators and providers this morning issued a stark warning to pension scheme members looking to transfer from a defined benefit (DB) to a defined contribution (DC) pension during the covid-19 crisis, saying the move is unlikely to be in their long-term interests.  Under guidance published by The Pensions Regulator (TPR) this morning, pension scheme trustees have been asked to send DB members looking to move retirement funds a letter warning them of the risks of doing so during the pandemic and urging them to consider the decision carefully. The TPR is concerned that, with covid-1...

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