pension transfers

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.

Only a fifth of defined benefit (DB) members believe they can make an informed decision to transfer out of their scheme, a survey has revealed.

Brexit will not have a material impact on auto-enrolment (AE) contribution rates and should not be used as an excuse to meddle with the regime, the industry has said.

This week we want to know if increased auto-enrolment flexibility is needed and whether there is a minimum number of people required for a trustee board to operate effectively.