The Pensions Regulator (TPR) has issued a consultation document on its guidance for trustees in relation to the new regulations on the calculation of cash equivalent transfer values (CETVs) which come into force on 1 October 2008.
The new Transfer Values regulations 2008 provide for a scheme-specific basis for calculating CETVs. For background to these regulations please see our earlier briefing (Changes to transfer values regulation: briefing 169).
The draft guidance is aimed at helping trustees understand their new responsibilities in relation to the calculation of defined benefit transfer values. The consultation closes on 19 September 2008.