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MFR reform will increase pension transfers

Scottish Equitable is predicting an increase in pensions transfers as a result of minimum funding requirement reform.

ScotEq wants IFAs to be aware of the advice implications for clients following proposals from the Department for Work and Pensions with a scheme specific standard.

It believes many members of a defined benefit scheme may be best advised to consider a transfer before long term changes to the MFR are implemented.

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