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Transfers Without Consent: DWP Consults on Changes
by Ian Neale 02/01/2002 Printer-friendly version of this page
The Department for Work and Pensions (DWP) is consulting on proposed changes to the bulk transfer rules. For salary-related schemes, the intention is simply to amend Reg 12 (2) of the Preservation Regs in line with the relevant Actuarial Guidance Note (GN 16). For money purchase schemes, draft amendments to the Protected Rights (Transfer Payment) Regs should enable deferred protected rights to be transferred without consent to another COMP, unless the deferred member clearly refuses, in writing, within three months of trustees’ notification of intention. Consent will still be required, as at present, from active members with protected rights.
At the same time, the DWP is also consulting on amendments to the Pensions Ombudsman Procedure Rules. These set out the necessary details to bring into effect Section 54 of the CSPASSA 2000, which itself amends ss. 148 and 149 of the PSA 1993. The purpose is to enable an investigation by the Ombudsman to cover those not directly involved in the case, via an appointed representative. The need for this was highlighted by the High Court judgment [pdf] of 23 February 2001 which set aside the Ombudsman's determination in the Williamson case, concerning equalisation of GMPs.
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