New regulations for schemes to process pension transfers came into force on 30 November 2021. The Trustees must ensure new specific checks are made before they can comply with a member’s request to transfer their pension.
The checks will determine whether the request meets the new statutory conditions to enable a transfer to proceed, including whether a member is required to get guidance from .
We are currently making changes to our transfer documentation to comply with the new regulations and it may be several weeks before we can process any requests for transfer vales. Requests will, however, be processed within the three month statutory deadline.
In the meantime, members can continue to see estimated transfer values using .
You can read the Pension Regulators guidance .