Publication
Navigating international trade and tariffs
Impacts of evolving trade regulations and compliance risks
Future consultation planned on £30,000 transfer advice threshold
United Kingdom | Publication | November 2025
Pensions Minister, Torsten Bell, has confirmed that the DWP intends to consult on the £30,000 threshold level that currently applies for DB scheme members to seek transfer advice.
Under current law, members of schemes with pensions that include a guarantee are required to take independent financial advice before converting their DB pension to DC, where the value exceeds £30,000. This requirement is intended to ensure individuals are made aware of any existing guarantees that could be lost on transfer to a DC arrangement.
The Government is to assess the potential merits of increasing the £30,000 in line with inflation. A review of the regulations conducted in 2023 identified potential concerns regarding the cost and availability of independent financial advice and the extent of these issues is to be explored.
The DWP is working closely with the Financial Conduct Authority, the pensions industry, and HM Treasury and intends to consult “in the coming months”.
Partner
Email
lesley.browning@nortonrosefulbright.com
Recent publications
Publication
Low carbon projects: Global hydrogen and CCS market insights
Low carbon projects, especially those involving hydrogen and carbon capture and storage (CCS), play a crucial role in the journey towards global decarbonization.
Publication
Understanding hydrogen in Indonesia
As a general remark, Indonesia has not, at the date of preparing this summary, issued any regulation on hydrogen production, distribution and trade. It is expected that the upcoming New and Renewable Energy Law will provide a legal framework for the exploitation and utilisation of various new energy sources, including hydrogen.
Subscribe and stay up to date with the latest legal news, information and events . . .