Transfer values: new regulations published

The Occupational Pension Schemes (Transfer Values) (Amendment) Regulations 2008 ("the Regulations") were published on 11 April 2008, and are due to come into force on 1 October 2008. The Regulations establish new arrangements for the calculation of cash equivalent transfer values, and withdraw mandatory Guidance Note (GN11), which was previously used by the actuarial profession to determine transfer values. The Regulations follow a government consultation on this issue, which was instigated by the actuarial profession's call for a revision to GN11.
 
See Wragge & Co's analysis of the main provisions of the Regulations.