Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Appropriate independent advice definition

What does Appropriate independent advice mean? In pensions practice, this describes the regulated financial advice a member (or survivor) with safeguarded benefits must obtain before transferring, converting those benefits to flexible benefits, or taking a lump sum, typically where the value exceeds £30,000. It is a statutory term in the UK, defined in the Pension Schemes Act 2015 and the Occupational and Personal Pension Schemes (Advice on Pension Transfers) Regulations 2015 (with materially identical provisions in Northern Ireland legislation). Appropriate independent advice is: - given by an authorised adviser with permission under the financial services and markets act 2000 (Part 4A) to carry on the...

UK pensions: advice requirement for DB-to-DC transfers of safeguarded benefits, £30,000 threshold, trustees’ and employers’ duties, valuation and penalties

Published by a LexisNexis Pensions expert

Practice notes

FORTHCOMING CHANGE :

On 10 October 2025, the Department for Work and Pensions (DWP) stated it plans to consult on the £30,000 threshold that obliges pension scheme members to take independent financial advice before moving safeguarded pension benefits into a flexible benefit scheme, amid increasing scrutiny of whether the £30,000 level remains suitable in view of inflation and higher advice fees. For further information, see LNB News 22/10/2025 44. On 6 April 2015, pension freedoms were brought in, enabling members with flexible benefits (namely, money purchase benefits and cash balance benefits) to access their pension pots in additional ways, including through drawdown or by taking one or more lump sums known as uncrystallised funds pension lump sums (UFPLSs). These pension freedoms do not extend to safeguarded benefits (namely, defined benefits (DB) and other benefits that are not money purchase or cash balance). For further information on the pension freedoms, see Practice Note: Pension freedoms—an introduction [Archived]. For further information on which benefits amount to a safeguarded benefit and which do not, see Practice Note: Flexible benefits vs safeguarded benefits.

Safeguards introduced on 6 April 2015

The government acknowledged that the attraction of the pension freedoms (notably for many...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 22/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...