Pension transfers are set to hit two million a year within the next 12 months as pot follows member begins. That, Jon Gwinnett writes, is just one reason why the industry needs to get its house in order
The pension industry stands at a crossroads. There has been a revolution in the private pensions market following this year's Budget announcements and the workplace market is about to undergo the same experience because of auto-enrolment. Platforms have transformed the saving and investment space, bringing simplicity, administrative functionality, and placing advisers and clients at the centre of the proposition. Auto-enrolment and pension freedom are going to radically change the workplace market and private pension market. The pension transfer processes that support the industry wil...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes