Bulk transfers of defined contribution pensions without member consent
27 October 2017
A consultation has been published which seeks views on draft regulations intended to simplify the bulk transfer of defined contribution pensions without member consent.
The consultation seeks views on draft regulations which would:
- Replace the requirement to obtain an actuarial certificate for bulk transfers of defined contribution (DC) pensions without member consent (DC to DC) with an alternative test and new member protections
- Remove the scheme relationship condition for these transfers
- Maintain charge cap protections for those transferred without consent
The consultation follows an earlier call for evidence on bulk transfers of defined contribution pensions without member consent (December 2016).
The government welcome views from any interested parties, particularly:
- Pension industry bodies and professionals
- Trustees or scheme managers
- Pension scheme members and beneficiaries
- Employers and representative organisations
The consultation closes at 5pm on 30 November 2017.