Regulator allows three-month pension transfer freeze

The Pension Regulator has given defined benefit transfers a three month hiatus while also allowing employers to halt contributions in response to the covid-19 crisis. The delay aims to help administrators manage their resources at a time when activity levels are very high and firms are dealing with reduced staff numbers and operational challenges. It also helps mitigate the risk of members being taken in by scams, or simply making poor financial planning decisions in response to the crisis situation. "For many schemes, the current funding position, calculated using consistent assumpti...