Trustees delaying transfers are missing the point

Romi Savova argues the pensions industry often undermines savers’ trust with its actions

clock • 6 min read
Romi Savova
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Romi Savova

Over the past few weeks, we’ve heard an array of excuses from various master trusts as to why they have no choice but to delay consumers' transfers since 2021's Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations came into effect.

From "it's not our fault" to "we're simply applying the rules given to us", master trust trustees have argued that they are doing their best. To help clarify their intentions, the Department for...

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