Event / 25 May 2018

DB Transfers Webinar 3: Why do members transfer? A members perspective

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Why do members transfer?

Why is it that so many members express an interest in transferring their Defined Benefit (DB) pension benefits? What actually goes through their mind when considering a transfer and why are they even thinking of giving up the relative safe surroundings of a defined benefit world? Pension Freedoms, succession planning or are we to believe that members really did become aware that transfer values were at an all-time high, so if you are thinking about it, consider it now!

In contrast to this, in their recent Policy Statement PS18/6, the FCA has stated it intends to retain the existing guidance that an adviser should start from – the assumption that a transfer will be unsuitable (i.e. the ‘starting assumption’).

So why do so many do so many members decide to transfer? What has influenced an adviser in making a recommendation to transfer or not to transfer?

In this webinar we share insight into what goes through the mind of a member and why an adviser might decide to make a recommendation to transfer or not to transfer. Those that say a transfer can never be in the member’s interests might just be wrong on some occasions and likewise, what might appear to be clear justification to transfer might just be the wrong thing to do.