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Coronavirus and pension transfers

On 30 March 2020, the Pensions Regulator (TPR) published new guidance allowing employers temporarily to cease their defined benefit (DB) responsibilities for up to three months.

DB schemes will also be available to delay requests to transfer out of a scheme by three months.

These delays will allow trustees a longer timeframe to calculate the cash equivalent transfer value (CETV) in a way that should avoid some of the uncertainty during the outbreak.

It also avoids rash decisions, and makes it harder for scammers. [20.03]

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