- Government is encouraging consolidation of DC schemes into master trusts to improve governance
- From 5 October 2021 trustees need to complete an annual assessment on value for members
- Points to consider if transferring to a master trust include:
- Charges and fees structure;
- The provision of benefit flexibilities;
- Matching existing retirement targets;
- Death in service provision;
- Protected pension ages;
- Transfer back facilities for hybrid schemes.
- PASA intends to publish guidance to improve transfers between DC arrangements in early 2022.
Find out more about DC transfers