Pensions regulator warns on DB inducements

The warning follows a number of recent stories (link) in which industry watchers have warned of a growing problem ahead. The regulator’s new guidance boils down to ensuring members are fully informed of any implications of transferring out, and both they and scheme trustees are encouraged to seek independent advice. TPR says the guidance is to help employers, trustees and members fully understand what the implications of any inducements may be, or the effects of agreeing to any scheme rule changes possibly leading to reduction in benefit. Tony Hobman, chief executive of the regulator,...