“Inducements” – TPR guidance published
Reacting to the growing number of employers offering defined benefit (DB) scheme members inducements (or incentives) to transfer out or accept a reduction in benefits, the Pensions Regulator (TPR) has published guidance aimed at employers, trustees and sceheme members. Whilst recognising that employers may have “business and commerical” reasons for putting forward inducements, TPR’s interest lies in fulfilling its statutory objective of protecting members’ benefits. The purpose of the guidance is therefore to help all parties identify and understand the implications of inducements.