People's Partnership calls for ban on pension switching incentives

Master trust says cash incentives making people switch to worse pension options

Jonathan Stapleton
clock • 3 min read
Patrick Heath-Lay: Cash incentives bias the pension transfer process in ways that are often harmful
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Patrick Heath-Lay: Cash incentives bias the pension transfer process in ways that are often harmful

Offers of cash incentives make people ignore the fine print and switch their pension to a worse option, latest research from People’s Partnership and the Behavioural Insights Team (BIT) shows.

The provider of The People's Pension master trust said its research – conducted by BIT between September and November last year among a sample of 5,687 UK adults – tested how people would respond t...

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