The government is set to take action over companies offering cash incentives to leave defined benefit (DB) pension schemes.
Speaking to delegates at the National Association of Pension Funds (NAPF) conference, pensions minister Steve Webb (pictured) said a working group - chaired by former Pensions Advisory Service chairman Margaret Snowdon - was putting together a code of practice on de-risking exercises, which would be published before next summer. But he said he was fully prepared to bring forward legislation if he has to - noting the communications language and practice around some incentivised transfer offers and pension increase exchanges were still poor. The NAPF said it was vital incentivised trans...
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