We have stopped accepting all client enquiries for defined benefit transfer advice.
This is because our insurance premiums are simply too high now in connection with this area, some 5 X higher than they were 3 years ago. Many insurers are no longer offering full professional indemnity insurance cover now and with policy excesses at £25,000 per claim, it is simply not economical for us to continue offer defined benefit transfer advice given the fees we would need to charge. We will also no longer be accepting pension schemes that include GMP (guaranteed minimum pensions).
We are still insured for past transfer works and will still offer other safeguarded rights pension transfer advice on areas such as guaranteed annuity rates and higher, protected tax free cash sums.