Members could sign acceptance of DB to DC scheme transfer consequences

A source familiar with the matter said discussions with the DWP had suggested asking individuals to sign a statement accepting awareness that benefits might be provided differently, or be more or less, following a transfer. In its response to consultation on draft legislation this week, the government says: "We have introduced safeguards to ensure that members are aware of the implications of transferring, in particular that there will no longer be a requirement to provide for survivor benefit after transferring." This came as the government performed a U-turn on plans to prohibit tra...