What should defined benefit (DB) pension scheme trustees be considering, in the current circumstances, when dealing with member requests to transfer away their pension benefits?
Long-term gilt yields (interest rates) have been rising since the start of the year and were extremely volatile towards the end of September in response to the announcement by the Bank of England that it was going to start quantitative tightening, followed immediately by the Government’s “mini-budget” on 23 September.
During times of exceptionally high levels of market volatility, particular care is needed when calculating and paying Cash Equivalent Transfer Values (CETVs). Our briefing has been prepared to assist trustees with the key CETV-related decisions that DB schemes are currently facing.
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Understand the key considerations for DB pension scheme trustees when dealing with member requests to transfer away their pension benefits.
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