Andrew Warwick-Thompson looks at trustee concerns over ‘red flag five’ incentives
TPR has made changes to its guidance and DWP will consider further in regulation review
Master trust says either the DWP should fix the rules or providers should halt incentives
Claims centre on whether marketing incentives are a flag for transfers
PensionBee issues warning over abuses of legislation
The Financial Conduct Authority (FCA) has confirmed reducing transfer times remains a key priority as it continues to back the Star Initiative and encourage all firms in the pensions sector to take part.
The ViaNova Working Group has launched an initiative to automate pension transfers in partnership with TISA Exchange.
Average transfer takes 11.9 days
Outcomes have improved for scheme members choosing to transfer, according to research by XPS Pensions.
Requiring pension freedoms users to transfer their funds into a workplace pension scheme could damage savings further, says Baroness Ros Altmann.