TPR has issued for consultation draft guidance for trustees in relation to their new responsibilities for the calculation of transfer values under the Occupational Pension Schemes (Transfer Values) (Amendment) Regulations 2008 which come into effect on 1 October 2008.

The guidance covers:

  • The calculation of cash equivalent transfer values (CETV) in respect of defined benefits;
  • The calculation of other transfer values in respect of defined benefits which are not CETV as defined in legislation (including cash transfer sums);
  • The calculation of defined benefits granted in exchange for a transfer-in.
  • The deadline for responses to the consultation is 19 September 2008. We will be publishing a detailed briefing on CETVs and the new regulations and guidance in due course.

View the consultation document (142KB)(pdf).