The Pensions Regulator (TPR) has launched an investigation into exit fees, charges and the defined contribution (DC) transfer process, in a bid to improve processes.
The survey will be carried out across a sample of schemes to inform the government's upcoming consultation on tackling excessive early exit fees in an attempt to develop the transfer process.
It coincides with a "complementary" probe by the Financial Conduct Authority (FCA), which has written to providers requesting data on exit charges, transfer procedures and the flexibilities they are offering customers.
The results of the survey, due to be published later this summer, will be used in a discussion on the broader "operational readiness, governance and member communications" of schemes looking to provide flexible decumulation options.
According to the watchdog, reviews are also taking place to understand the impact of the pension freedoms on defined benefit (DB) schemes, any subsequent risks and the application of its regulatory guidance.
A statement from TPR said: "We remain committed to making pension flexibilities work in the interests of retirement savers and expect to conduct further research on decumulation, to include costs and charges, in the autumn.
"We will consider with government and the FCA what further action may be required to promote good outcomes for members."
Speaking at Pensions and Benefits UK on 1 July, TPR chairman Mark Boyle (pictured) revealed the regulator was considering creating more prescriptive guidance for trustees communicating the pension freedoms to members of large schemes.
In the first of a five-part series of articles for PP, pensions minister Guy Opperman sets out how impending legislation will improve pensions for members.
Tim Shepherd and Beth Brown look at the legal implications of working from home and how pension professionals can mitigate the risks.
The Pensions Regulator (TPR) has substantially increased the usage of its powers against trustees – posting a sharp rise in the use of formal information gathering powers and High Court production orders during the three months to the end of September....
The Pension Schemes Bill has completed its third reading, crossing its latest hurdle in the House of Commons.
An amendment to the Pensions Schemes Bill which would have seen people given a pre-booked Pension Wise appointment ahead of accessing their retirement savings has been defeated.