The investigation of misadvised defined benefit (DB) pension transfers has been a key focus area for the Financial Conduct Authority (FCA) following a review which deemed many transfers were unsuitable – including the high-profile restructuring of the British Steel Pension Scheme in 2017 which left thousands of members with little time to make complex investment decisions.

In Berryman v Zurich Australia Ltd [2016] WASC 196 it was decided that a bankrupt's entitlement to claim a TPD benefit under a life insurance policy is not an entitlement that is divisible amongst the bankrupt's creditors, and therefore such an entitlement does not vest in the Official Trustee in bankruptcy. Tottle J of the Supreme Court of Western Australia ruled that the bankrupt insured could continue an action in his own name to recover the TPD benefit. Life insurers may need to adjust their claims' payment practices in light of the Berryman decision.