Pensions Watchdog Warns Trustees Ahead Of 'Nudge' Rules

By Martin Croucher (January 13, 2022, 1:27 PM GMT) -- The retirement savings watchdog warned trustees on Thursday about new rules being introduced this year that will require them to "nudge" members toward official guidance before they go ahead with a transfer of savings.

Trustees and their advisers should start preparing now for the new government regulation, which will be introduced in June, The Pensions Regulator said.  

The Department for Work and Pensions wants trustees to offer to book a session with Pension Wise for members considering transferring their money elsewhere, which it describes as a "stronger nudge" toward official guidance. There has been concern over the low uptake of Pension Wise, which...

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