Webb floats idea of bulk transfers to cost efficient pensions

However, Webb also said there were concerns from providers that some people may miss out under the new arrangement. "There is a lot of money tied up in old-style schemes and I am looking into whether there would be a willingness to move this money into newer, better value pensions," he said. "The issue seems to be that providers will move people only for one person to come along and say ‘I would have done better if I'd stayed where I was'. As a result providers don't want to do this." Responding to comments that providers would be unable to carry out such transactions Webb said he ...