FOI reference - FOI-6205
Date - 23 July 2021
Request
- Does the £30,000 exemption not absolve a business for liability now and in the future?
Does the Pension Regulator have the number and a list of pension administrators who will accept transfers under the £30,000 exemption rule ie transfer from DB to DC scheme without independent advice.
- Has the pensions regulator received any complaints or claims for financial loss from clients who have transferred to bona fide providers without taking financial advice using the £30,000 exemption rule?
If so, how many complaints and how many financial loss claims?
Response
- I can confirm we do not hold the information you have requested.
- I can confirm we have not received complaints regarding financial loss from members who have transferred to bona fide providers without taking financial advice using the £30,000 exemption rule.
Please note that claims for financial loss is outside TPR’s remit and therefore I can confirm we have not received claims for financial loss from clients who have transferred to bona fide providers without taking financial advice using the £30,000 exemption rule.
Advice and Assistance
Please note that whilst TPR does not have powers to review individual concerns about pensions, The Pensions Ombudsman does have that power.
If you are a pension saver or scheme member, you can access the free guidance and support provided by MoneyHelper.
If you want to learn more about TPR and what we do, please see: