This, from the Observer overnight explains why advice surrounding transferring out of DB schemes is so risky - because there are cowboys out there quite happy to take the money and run (I dread to think how many ex mil ex pats are now sitting on absolute shockers of bought out pensions in Dhofar, Limassol, Kowloon etc).
It isn't always bad advice though, transferring out isn't
always wrong - prescriptively and dogmatically telling people what is best for them without going through the exacting detail is, in my eyes, just as bad as churning business at a client's expense and to his/her detriment. But the default option has to be 'non!' at outset.
Pension transfers: could you be due compensation? | Money Observer
No one likes compensation cowboys and their radio ads, unless you're a compensation cowboy or an ad salesman. But if you were poorly advised by a company trading under the auspices of the UK regulatory authority, and if you were poorly advised, it might be that they're going to be sending
you a letter!
Either way, it might just be worth dropping them a line with your current address..