Closing the transfer window


Controversy over the correct way to calculate transfer values has been ended by the UK's Department of Work and Pensions (DWP) decision that the potential costs to pension schemes from reform outweighed the potential to treat scheme members more fairly, and will not make any significant changes to the present system.

Instead of the proposals put forward by the UK's Institute and Faculty of Actuaries, EXD 54, which would have seen transfer payments based on the real value of pension promises made

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