DWP pension transfer values rules 'retrograde'

The actuarial consultancy’s comments come before the discussion period on the DWP's draft regulations ends tomorrow. First Actuarial calls the draft regulations “retrograde” and says they do not require a consistent approach for transferring in and out of schemes. The draft regulations propose different terms for members transferring in and out of schemes. The consultancy says an inconsistent approach could cause a risk that members who bring a transfer value into a scheme but wish to transfer out later may not receive a fair deal. First Actuarial says: “Having a Government ‘expectatio...