The Pensions Regulator's draft guidance on how to calculate transfer values for members of defined benefit pension schemes is too late to be effective, Mercer says.
Mercer said the timing of the guidance, which was published last week, did "not dovetail with the expectations imposed on trustees under the regulations" as they would have to reach decisions on the calculation...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter