Five ways international pension transfers are changing
By Will Grahame-Clarke, 14 May 18
Pension transfers are “good business for good advisers”, according to Old Mutual Wealth, which has produced a five step best practice guide for international advisers.
Tvas report
According to Denton, Transfer Value Analysis Service (Tvas) reports are “becoming an actor” in the pension transfer process.
From April, in addition to the usual steps like matching cash flow modelling and a key features illustration (KFI), an adviser must also consider alternatives to making a transfer.
From October, an adviser must also run an Appropriate Pension Transfer Analysis (Apta), which is client and scheme specific, and draft a plan that extends beyond average life expectancy.
Tags: DB pensions | Old Mutual
Christopher Lean says:
This assumes that there will be sufficient UK advisers either willing or, indeed, able to advise on DB transfers, particularly for non-UK advisers. Many will not have yet had their PI renewal terms. Far from an increase in transfers, there may be a levelling off or a decrease.