Savers given opportunity to lock in minimum pension age at 55

In its response, the government stated: “The Department for Work and Pensions has recently consulted on regulations to limit the statutory right to transfer in certain circumstances, including where there are signs of a scam. 

“An incentive to transfer, such as the promise of accessing pension savings before NMPA, is considered a red flag under the regulations and will allow trustees to prevent a transfer from proceeding.”

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