How the new DB redress calculation could benefit your clients

In the finalised guidance paper published on Friday, the regulator updated various elements of its previously proposed redress calculation, including the way enhancements are valued and changes to pre and post-retirement discount rates. For instance, it allowed for the use of the actual personal pension charge where known, up to a maximum of 0.75%, as opposed to deducting a default 0.75% charge from the pre-retirement discount rate. The updated rules mean some scheme benefits are considered to be worth up to 20% more than what they would have been under existing methodology. However i...