Abbey warns of 'poisoned chalice' pensions regulation

Government proposed amendments to the transfer value regulations for occupational pension schemes suggest trustees of schemes being wound up but where the employer is solvent will be obliged to advise members - who want to take a transfer value out of the scheme - to look for independent financial advice. According to Abbey, however, IFAs will have to self determine issues which as yet are not totally clear, such as future employer contributions to the scheme and movements in the value of the scheme assets. The Government has encouraged members to seek financial advice within these circ...