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ACA cautions on regulatory reform of actuarial work
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ACA warns over pensions impact of HMRC tax proposals
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ACA warns of inadvertent damage to pensions advice market
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9
th June 2021 11:58 am
The Department for Work and Pensions (DWP) should give more guidance and time to help trustees process tougher defined benefit (DB) transfer rules.
The call comes from initial responses to its consultation on pension transfers that closes tomorrow.
The DWP wants to introduce new powers that give trustees and pension managers greater scrutiny of transfers.
The new rules are part of a broad crack down on scams that have been a concern of MPs and campaigners in light of the pandemic.
The tough proposals will force pension schemes to follow a prescribed process when there are concerns about pension transfers.