pension transfers

The estimated transfer value quote for the average defined benefit (DB) member stayed fairly stable over November, according to Xafinity.

Scottish Widows and Standard Life recently completed the industry's first two automated bulk transfers of occupational schemes. Michael Klimes examines how automation reduces risks

Frank Field MP has said the £12.6bn deficit at the Universities Superannuation Scheme (USS) and the transfer advice individuals receive are topics which demand closer scrutiny.

The government's proposals to clamp down on pensions cold calling are still lacking in detail and it needs to be much clearer about how they will be introduced, says the industry.

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.