Guide will help industry with key due diligence steps when assessing transfers
PensionBee found 42% said the process was so difficult they would not attempt to transfer again
The buyout deficit of FTSE 350 pension schemes has reduced by £2.5bn since the introduction of Freedom and Choice due to an increased number of transfer exercises, Barnett Waddingham has found.
NEST is now managing £5.7bn on behalf of its members, more than double the £2.7bn it was managing at the same time the previous year.
The Pensions Administration Standards Association (PASA) has launched guidance on defined benefit (DB) transfers to help give members better flexibility while retaining their pension benefits.
The Salvus Master Trust has launched a mobile app for members after employers revealed they wanted their members to have more access to online tools.
XPS Pensions has combined its transfer value index and its transfer activity index to create a transfer watch service to understand the trends and behaviours of members accessing the pension freedoms.
Trustees fear their members are not equipped to deal with the risks they face when accessing their pension and worry those nearing retirement will face predatory attention from scammers, research by Wealth at Work reveals.
Aon has revealed defined benefit (DB) schemes are offering more support to members in their decision making at retirement, with one in five schemes now including personalised transfer value figures in retirement packs and making online tools available....
The National Employment Savings Trust (NEST) will not expand its decumulation offering to enter the drawdown market, the Department for Work and Pensions (DWP) has confirmed.