David Norgrove, chair of The Pensions Regulator has called for greater scrutiny of trustees offering incentives to employees who transfer their accrued benefits away from final salary or defined benefit schemes.

Speaking at the NAPF Conference, he said: ”Trustees should start from the presumption that such exercises and transfers are not in member’s interests. If a company is willing to encourage the transfer, the company’s gain is likely to be the member’s loss.”

EBS has a specialist adviser, Steve Randall, qualified to provide advice on the suitability of any occupational pension scheme transfers. David Norgrove’s speech does not refer to transfers of stakeholder or personal pensions.  

For a full copy of the speech visit: href=”http://www.thepensionsregulator.gov.uk/mediaCentre/pressReleases/pn09-20.aspx”>http://www.thepensionsregulator.gov.uk/mediaCentre/pressReleases/pn09-20.aspx

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