Progess report: Where are we now on re-reg?

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Transferring clients' assets between organisations can be a major headache - often time consuming, frequently frustrating and possibly uneconomic.

The FSA has proposed making re-registration between nominee companies including all platforms compulsory from 1 January 2013. So how is the industry gearing up for 2013? Right now, most pension-to-pension and pension-to-annuity transfers are cash based. Customers’ assets are sold and all of the resulting cash is re-invested, leading to potential taxable events. Cash is fine for many transfers, but not all. Given the broad agreement in the industry that a significant amount of assets will transfer from place to place in the coming years, it is clear that a simple, quick and holistic wa...

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