Transferring a DB pension: Why So Hard? 😖

Trying to transfer your Defined Benefit (DB) pension and feeling like you’re hitting wall after wall? Trust us, you’re not the only one. Every year, thousands of UK pension holders discover that moving a DB pension is one of the most heavily regulated, scrutinised, and administratively painful financial processes in the UK.

In this guide, Dominic James Murray, CEO & Founder of Cameron James, explains why DB pension transfers have become so challenging in 2025, and what’s actually happening behind the scenes that most people never see.

From strict UK legislation, cautious trustees, and exhaustive due diligence, to a rapidly shrinking pool of qualified Pension Transfer Specialists (PTS), you’ll understand why even straightforward transfers become multi-month projects involving dozens of documents, compliance checks, and multiple regulated entities.

Suppose you’re researching whether transferring your DB pension is right for you, comparing advice firms, or simply trying to understand the process. In that case, this breakdown will provide you with clear and transparent insight into why DB transfers are challenging, and how to manage the journey effectively.

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Transferring a DB pension: Why So Hard? If you’re considering a DB pension transfer, it’s crucial to understand the strict FCA regulations, high Professional Indemnity (PI) insurance costs, and the essential role of a qualified Pension Transfer Specialist (PTS). DB transfers require detailed due diligence, full scheme information beyond your CETV, and months of administration, making them one of the most tightly regulated areas of UK financial planning.

Key Points of the Video:
Transferring a DB pension: Why So Hard?
🧾 Legal requirement for regulated and authorised advice when CETV exceeds £30,000
⚖️ Heavy regulation introduced after scandals such as British Steel
👨‍🏫 Specialist shortage as firms drop out due to expensive PI insurance
🏛️ Seeding schemes extremely strict with due diligence to avoid liability
⏳ 10–70 working day delays just to obtain scheme information
💷 Real transfer costs explained, including advice report and implementation fees
📉 Giving up guaranteed income for life and moving into market-based returns
🛡️ Importance of working with a regulated firm under the two-adviser model

Video Timestamps:
00:00 Intro: Transferring a DB pension, Why So Hard?
00:24 Regulation & £30,000 CETV Rule
02:07 Why DB Transfers Are So Complicated
02:26 PI Insurance & Specialist Drop-Out
03:27 Seeding Scheme Due Diligence
05:22 10–70 Working Day Delays
06:29 Big Decision: Guaranteed Income for Life
07:12 Market Returns vs Safeguarded Benefits
08:18 Final Thoughts & Summary

Disclaimer 🚨
⚪ All Defined Benefit (DB) pension transfer enquiries involving safeguarded benefits are
handled by an independent, FCA-regulated Pension Transfer Specialist (PTS) firm. We
provide pension and investment advice under the 2-adviser model but do not assess DB
transfer suitability. The PTS firm operates independently, and clients fall under its
regulatory jurisdiction.

⚪ Content is for informational purposes only and does not constitute financial, investment, tax
(including for U.S. residents), or legal advice. Always conduct independent due diligence and
consult a professional adviser before making financial decisions.

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