Xafinity hits out at DWP review of trust-based pensions

The DWP last week launched a review into the differences between regulation of trust-based occupational pension schemes and contract-based workplace personal pension schemes. Pensions minister Steve Webb says the department is particularly concerned about the effect of short-service refund rules on pension savings. Currently, members of trust-based pension schemes who leave their job within two years may have their contributions refunded. If the member takes their refund, the employer can keep its own contributions to the member's pension in the trust to help pay for future administra...