Have transfer 'sweeteners' gone sour?

Employers are now required to disclose their defined benefits (DB) pension liabilities on their balance sheet, and the practice is leading many to look at ways of reducing their responsibilities, with one popular option being to encourage members out of the DB scheme and into a less generous defined contribution (DC) arrangement. Over the last year or so the idea of pensions transfer “inducements”, “incentives” or “sweeteners” has drifted into the spotlight, as the proposals for personal accounts raised concerns that smaller employers would offer employees cash or salary incentives to ‘op...