The Department for Work and Pensions has confirmed it will create an ‘automatic transfer' system for small pots of less than £10,000, allowing workers to take their pensions with them from job to job.
The changes will include the abolition of short service refunds for money purchase schemes, possibly as soon as 2014. Pensions minister Steve Webb said: "Instead of having lots of small pension ...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
