Claims centre on whether marketing incentives are a flag for transfers
PensionBee issues warning over abuses of legislation
The Financial Conduct Authority (FCA) has confirmed reducing transfer times remains a key priority as it continues to back the Star Initiative and encourage all firms in the pensions sector to take part.
The ViaNova Working Group has launched an initiative to automate pension transfers in partnership with TISA Exchange.
Average transfer takes 11.9 days
Outcomes have improved for scheme members choosing to transfer, according to research by XPS Pensions.
Requiring pension freedoms users to transfer their funds into a workplace pension scheme could damage savings further, says Baroness Ros Altmann.
Schemes already face a legislative requirement to carry out transfers promptly and efficiently, so they should voluntarily get on board with the industry-developed solution, says Tom McPhail
This week's top stories include Amber Rudd remaining as work and pensions secretary, and the regulator carrying out seven criminal investigations into potential scams.
Pension transfers have passed the £60bn mark as more than a third of a million people access their defined benefit (DB) pots, a Freedom of Information (FOI) request has revealed.