Pension liberation: new restriction on transfer rights
Following on from the Autumn Statement, the DWP and HM Treasury
have issued consultation looking at three aspects of pension
liberation scams. The consultation covers:
- limiting the right to statutory
transfers;
- making it harder to establish
fraudulent schemes; and
- a ban on cold calling.
A key issue for trustees is the tension between a member's
statutory right to transfer and their obligation to ensure the
transfer is made to a legitimate pension arrangement.
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PPF levy: conditions for 2017 confirmed
The PPF has published its levy determination for 2017-18. The
levy rules are largely unchanged from last year. There are some
minor adjustments for employers who have moved to new accounting
standard FRS 102 (to avoid an artificial movement in their
insolvency risk rating).
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