UK - Hopes of an early change to wind-up regulations were dashed after a motion put forward by the Conservatives was defeated in parliament.
The government, which defeated the motion by 315 votes to 191, restated that any changes to wind-up rules will follow consultation on its pensions Green Paper.
But Conservative pensions spokesman Oliver Heald asked: “Do we have to wait perhaps for years, when this change could be made speedily?”
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.