DWP to legislate pension transfer values

When a person decides to move their rights from one pension scheme to another, a cash value is put on he rights, and that sum is passed to the new scheme. These individual transfer payments are called “cash equivalent transfer values” and can only take place if the new scheme is willing to accept the transfer. They can also be used in relation to the sharing of pensions after a divorce. Responsibility for establishing the framework actuaries must work in when advising scheme trustees on how to calculate transfer values, is currently delegated through regulations to the Actuarial Profess...