There has been a spike in requests for DB transfers following the pension freedoms and higher transfer values. Michael Klimes looks at how the industry is coping.
At a glance Pension freedoms and appetite to access cash has pushed up demand for DB transfers Transfer values were 10% to 15% higher than normal three months ago It is a requirement for members...
Only one third of defined benefit (DB) schemes lengthened their recovery plan end dates in 2019, according to research by Hymans Robertson.
Hargreaves Lansdown has been named as the slowest provider to switch pensions through the Origo transfer service.
Regulatory guidance “could set too high a hurdle” for superfunds, Lane Clark and Peacock (LCP) warns.
Around one in 25 pension schemes have made use of regulatory easements to deficit recovery contribution (DRC) payment schedules, according to The Pensions Regulator (TPR).
Schemes and their administrators have rightly received much praise for ensuring that pensions have continued to be paid in full and on time during an unprecedented period of disruption.