Pension transfers taking 'twice as long' due to fraud fears

Administrators said the delays were caused by increasing compliance needs and fear of fraud, with some transfers currently taking twice as long as normal. The burden of implementing changes unveiled in the Budget is also putting a strain on administrators. Some have raised concerns members could receive lower transfer values than they should and employer-led liability transfer exercises could be jeopardised as a result of these delays. Premier head of administration services Daniel Taylor said: "Administrators go through an awful lot of additional compliance checks to make sure tha...