A-Day rules penalise pension consolidation

In yet another ongoing A-Day issue, the insurer points out people who are entitled to more than 25% tax-free cash through their occupational pension schemes could lose their entitlement if they want to move their benefits into just one plan. It says if a client, made up of a husband and wife, had, for example, three executive pension plans (EPPs) they can transfer just one plan into another scheme such as a self invested personal pension (Sipp) without any adverse consequences under the block transfer rules, but if they transfer all three into another scheme then they will lose entitlement...