Finalised guidance for trustees of defined benefit (DB) pension schemes has been published giving further clarity on how they should deal with transfer requests from members looking to take advantage of pensions freedom.
It outlines trustees' obligations in handling DB to defined contribution (DC) transfers and provides more detail on the requirement for members to take independent advice for the transfer of pots more...
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected