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News: DWP 'wrong' over transfers.

Byline: Antoinette Odoi

TRANSFER VALUES

The Department for Work and Pensions' decision to allow scheme trustees to set the assumption on transfer values has been lambasted by Standard Life, with the company saying the decision is likely to encourage employers to offer transfer bungs to ex-employees.

Under the new rules, to be enforced in April next year, transfer values will be calculated on a scheme-specific basis using 'best estimate' assumptions, and trustees will set the assumption after taking actuarial advice.

According to Stand

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