The transfer values debate

The Department for Work and Pensions (DWP) recently delayed new regulations governing the calculation of defined benefit pension scheme transfer values. These new rules will now come into force from October 2008, instead of the originally planned April 2008. The debate over transfer value calculations has been around for over two years now. After protracted consultation, draft regulations eventually appeared in August of this year. These regulations were supposed to reflect the new scheme specific funding rules introduced by the 2004 Pensions Act, but in practice, they allow trustees sign...