Pension transfer values still under consideration

In March, the then Minister for Pensions Reform, Stephen Timms, stated the Department for Work and Pensions (DWP) would ‘shortly’ be issuing draft regulations to legislate how to calculate defined benefit (DB) ‘cash equivalent transfer values’. However three months on, the DWP has instead issued a six week consultation paper to “prompt consideration and discussion”, as the government “has not formed any firm views” and wants to “gather together opinions and views from all sections of the pensions community”. The 36 page consultation, which ends on 11 August, says comments are not restri...