Closed petition: Change requirement to get advice on transferring DB pension
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We think you should only be required to get financial advice on transferring your defined benefit pension if the value of the scheme is more than £100,000. At the moment it is a requirement if the value is more than £30,000.
Fees for advice can be thousands, and many find they are lucky if they can actually find an adviser. We think the Government is denying us freedom of choice regarding our pensions.
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If this petition gets 10,000 signatures, government will respond to it.
If this petition gets 100,000 signatures, it will be considered for debate in Parliament.
This petition will stay open until 18 August 2025.