Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Latest NewsPay & benefitsPensions

New pension transfer guidance published for employers and trustees

by Personnel Today 15 Jul 2010
by Personnel Today 15 Jul 2010

The Pensions Regulator (TPR) has issued revised guidance on pension transfer incentives to make sure trustees are actively involved in managing the risk associated with them.

The incentives, outlined in the guidance published for consultation, include enhanced transfer values (ETVs), which are often offered by employers who want to encourage staff to move from a final salary scheme to a defined contribution (DC) pension.

The revised guidance highlights trustees should start from the presumption that such exercises and transfers are not in members’ interests and should therefore approach any exercise cautiously and actively.

It stipulates that, for transfer exercises to be conducted in an open, fair and transparent way, the regulator expects:



  • members to be provided with clear information that is not misleading;
  • members to be provided with impartial and independent advice to ensure they make the right decisions;
  • trustees to engage in the offer process and apply a high level of scrutiny to all incentive exercises to ensure members’ interests are protected;
  • employers to ensure any offers made are consistent with the principles in the guidance; and
  • no pressure of any sort to be placed on members to make a decision to accept the offer.

TPR chair David Norgrove said: “Since we published our initial guidance in 2007, we have seen behaviour that concerns us. There has been a box-ticking approach that has led to exercises being run without due consideration to scheme members.

“As a result, we will be looking closely at exercises and working with other regulatory bodies to ensure standards are improved. We expect trustees to play an active role in ensuring members are able to make informed decisions.”

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

Norgrove added: “The pensions ombudsman will take this guidance into account to determine whether any complaint is upheld. He can then direct trustees or employers to compensate members accordingly.”

The consultation lasts for 12 weeks and responses should be submitted by 5 October 2010.

Personnel Today

previous post
Graduate tax to be proposed by coalition government
next post
Thousands of police jobs under threat from cuts

You may also like

One in seven ‘revenge quit’ in latest employee...

7 Jul 2025

Skills shortfall in construction threatens housing target

4 Jul 2025

Company director wins £15k after being told to...

4 Jul 2025

MPs demand Home Office tightens visas to protect...

4 Jul 2025

It’s all about the Monet: how art transforms...

3 Jul 2025

Stop chasing quick fixes: return to the office...

3 Jul 2025

Asda hails major upgrade in employees’ benefits

3 Jul 2025

100% success for latest large-scale four-day week trial

3 Jul 2025

NHS 10-year Health Plan sets out vision for...

3 Jul 2025

Microsoft to cut 9,000 jobs globally as role...

3 Jul 2025

  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+