Cash equivalent transfer values (CETVs) were "significantly impacted" in a number of key areas by the Covid-19 pandemic, according to research by Barnett Waddingham.
Defined benefit (DB) schemes that provide GMPs must revisit and, where necessary, top-up historic cash equivalent transfer values (CETVs) that have been calculated on an unequal basis, a landmark court judgment said last week.
A potential surge in pension transfer requests as a result of the economic fallout from lockdown could see demand for advice rocket, putting increased pressure on the profession, the Personal Finance Society (PFS) has warned.
The Pensions Ombudsman (TPO) has rejected a number of complaints from members of the embattled and collapsed British Steel Pension Scheme (BSPS).
The Pensions Regulator (TPR) has sent letters to defined benefit (DB) schemes encouraging trustees to consider cutting transfer values on offer when workers want to leave.
An increased volume of enquiries has led British Airways (BA) Pensions to temporarily suspend transfer values for active members.
The Pensions Ombudsman (TPO) has stood behind the Standard Life staff pension scheme's decision to not issue a new transfer value, despite a member agreeing to pay for it.
Defined benefit (DB) schemes should provide more comprehensive information when calculating cash equivalent transfer values (CETVs) to reduce delays, according to Rathmore Financial and Royal London.