A new code of conduct introduced by the Department for Work and Pensions (DWP) will stop employers offering members of Final Salary pensions cash incentives to leave the scheme.
Transfers from Final Salary pensions
Over the past few years an increasing numbers of employers have been offering members of Final Salary pensions, also known as Defined Benefit pensions, financial incentives to leave the scheme, thereby reducing an employer’s long term liabilities.
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