Trustee rights 'should trump member transfer requests' in pension liberation fight

Margaret Snowdon (pictured), also a JLT executive, said legal changes should be made to emphasise the role of trustees in assessing transfer requests. While the Pension Liberation Industry Group is producing guidance to help support trustees, providers and administrators' handle requests, the panel is also calling for legislative changes to stem the practice. Members currently have a statutory right to a transfer value under the Pension Schemes Act 1993. Trustees must make transfers within six months, subject to application for an extension, or face penalties. Snowdon suggested a t...