Gov't weighs scrapping DB pension advice requirement for ex-pats

The government is considering scrapping the requirement to take advice on defined benefit (DB) pension transfers worth £30,000 or more, if an individual is living abroad.

A consultation published by the Department for Work and Pensions (DWP) this morning has asked for views on changing the current rules, as it is concerned that UK nationals who are resident in another country are not able to take advantage of pension freedoms.Please link to New Model Adviser to read the full article by Charles Walmsley.