View more on these topics

Zurich adopts Tisa pension transfer minimum standards

Zurich has agreed to Tisa’s minimum standards for automatic transfer of pension assets. 

Last month Tisa launched a voluntary code of practice for the electronic transfer of pension assets, the pensions equivalent to the Tisa Exchange agreement between platforms for the transfer of Isa and general investment assets. 

The pension transfer terms were initially met with limited take-up among Tisa members, which include a number of pension providers. 

Signing up to the Tisa terms means Zurich commits to transfer pension assets within two weeks to other providers who have signed up to the Tisa agreement.

Zurich head of retail platform strategy Alistair Wilson says: “We are proud to be leading the way with adopting TeX for pensions re-registration. This is another important step in showing our commitment to the intermediary market and the importance we place on helping advisers do business more easily.”

TeX director Jeffrey Mushens says: “TeX is now the standard for re-reg of funds and stocks and shares Isas, with over 90 per cent of coverage among fund managers and platforms. Due to industry demand the scope of TeX was expanded to include pensions, and we are very pleased to see firms like Zurich lead the way in this important market.”

Aviva, Legal and General and AJ Bell have all indicated they will sign up to the standard in future. 

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com