'DB to DC transfers post 5 April 2015' seminar
Time and date:
24 March 2015
Location: Etc Venues Maple House 150 Corporation Street Birmingham B4 6TB
Organiser: Barnett Waddingham
Website: Click here
Freedom and choice in pensions is already transforming defined contribution (DC) pensions, but how will it impact defined benefit (DB) schemes?
George Osborne's Budget speech in March 2014 started a revolution not just in DC pensions but in the entire pensions industry. Greater flexibility in DC pensions after 5 April 2015 will inevitably result in more members requesting to transfer their DB pensions into DC arrangements, with substantial consequences for DB schemes and their trustees. As well as potential flexibility for members, the new landscape presents new risks (both financial and non-financial) to trustees and sponsors.
This seminar will explore the issues around this and the new requirement for members to have received advice before transferring, in particular:
how much research do trustees need to do about a transferee's advisors and receiving scheme?
where transfers are discretionary, what factors should trustees bear in mind?
how might transfer volumes impact on future funding levels and cashflow?
should all members approaching retirement be given transfer quotes in future?
should employers be seeking to promote transfer options, and how should trustees respond?
do scheme transfer and commutation factors need to be set differently in future?
