Pension schemes to issue Covid-19 DB transfer warning letters to members

Market volatility

Hannah Godfrey
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Pension schemes to issue Covid-19 DB transfer warning letters to members

Pension scheme members looking to transfer from a defined benefit (DB) to a defined contribution (DC) pension during the Covid-19 crisis will be warned it is unlikely to be in their best long-term interests in a letter from regulators and schemes.

Under guidance published by The Pensions Regulator (TPR) on Wednesday 29 April, pension scheme trustees have been asked to send DB members looking to move retirement funds a letter warning them of the...

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