This week's top stories included Tom McPhail calling on occupational pension schemes to get involved in a working group attempting to reduce delays in transfers.
Has had 'positive' dialogue with FCA
The sharp increase in transfer requests since the freedoms could breach activity triggers and incur extra transactional fees for some schemes, writes Michael Klimes
Occupational schemes and their administrators are lagging behind in their involvement in an industry-wide discussion on slashing transfer delays, Tom McPhail has said.
Proposals to modernise processes around transfers have received support but miss some key points, writes Michael Klimes
Transfer value analysis should be replaced with a comparison showing the value of the benefits being given up, the Financial Conduct Authority (FCA) says.
The number of defined benefit (DB) scheme members transferring to defined contribution (DC) has more than doubled in a year, Xafinity figures have shown.
The estimated defined benefit (DB) transfer value remained fairly stable in March, falling by just £2,000, despite expected volatility.
The government has confirmed in today's Budget that it will align the tax treatment of foreign and domestic schemes.
A government proposal to limit the right to transfer to protect members from scams 'lacks ambition' and needs a much tougher approach, says the industry.