Commenting on the government’s response to the Pension Transfer and Early Exit Charges consultation, Graham Vidler, Director of External affairs, Pensions and Lifetime Savings Association said:
“We welcome the government’s response to this consultation and the commitment to publish guidance for trust based schemes on how to improve transfer times. The Association published a blueprint for achieving faster transfer times in its consultation response and we remain committed to this.
“We will continue to push the government on whitelisting – certifying in advance that all participants in a transfer are legitimate pension schemes and not financial criminals. Making transfers safer opens the door to making them much, much faster and also reduces costs. We are particularly glad to see the government’s commitment in their response to consider this further.”
A copy of the Pensions and Lifetime Savings Association’s submission to the consultation ‘Pension Transfers and Early Exit Charges’ can be found on our website here.
NOTES TO EDITORS:
We’re the Pensions and Lifetime Savings Association, the national association with a ninety-year history of helping pension professionals run better pension schemes. With the support of over 1,300 pension schemes and over 400 supporting businesses, we are the voice for pensions and lifetime savings in Westminster, Whitehall and Brussels.
Our purpose is simple: to help everyone to achieve a better income in retirement. We work to get more money into retirement savings, to get more value out of those savings and to build the confidence and understanding of savers.
Lucy Grubb, Head of Media and PR, Pensions and Lifetime Savings Association
T: 020 7601 1726, M: 07713 073023, E: [email protected]
Eleanor Carric, Press Officer, Pensions and Lifetime Savings Association
T: 020 7601 1718, M: 07825 171 446, E: [email protected]
Kathryn Mortimer, Press Officer, Pensions and Lifetime Savings Association
T: 020 7601 1748, M: 07901 007713, E: [email protected]