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Pensions minister Steve Webb announced that short service refunds are to be banned from October 2015. Money purchase occupational pension schemes currently make about 20,000 short service refunds every year, a figure which it expects will grow with the continuing roll-out of automatic enrolment.   TPAS chief executive Michelle Cracknell said it was critical take-up rates of the guidance guarantee increase over the next five years. Take-up rates have been projected at 25% of all retirees when the service launches in April next year. However, Cracknell explained people retiring ...