IFA Group Stops Defined Benefit Work

Financial advice group LBEC to no longer offer advice on transferring out of final salary or defined benefit pension schemes after regulator's intervention

Holly Black 2 September, 2019 | 3:39PM

Pound notes

IFA firm LBEC has said it will stop advising on defined benefit pension transfers following a review by the FCA of that part of its business.

The regulator has been stepping up its scrutiny of advisers recommending that savers ditch their gold-plated defined benefit pension schemes after almost 400,000 savers switched out of the schemes in the past three years

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Holly Black  is Senior Editor, Morningstar.co.uk

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