Automatic transfers consolidating pension savings aksi dating seks
We believe this will be good for customers, as their money is not tied up by unnecessary delays.
It will be good for firms, as their costs are driven down through adoption of these standards.
As with investments, this is based on the ISO open standards and common message set.The paper sets out those features of the new system where the Government has policy certainty, and highlights its preferences on other aspects of the policy which are still subject to further thought and consultation with interested parties. Commenting on the DWP report on automatic transfers: consolidating pension savings, David Dalton-Brown, Director General of TISA and Te X Chairman said: We welcome the report announced by the Department of Work and Pensions (DWP) and that they have selected Open Standards pension transfers to support the automatic pot-follows-member initiative.This is not to denigrate the Department, but the history of large-scale public sector IT builds is one of almost unmitigated disaster, with a few shining exceptions.
If this is the preferred direction, experience tells me that we need to build a solution that is designed by, and for, the industry.
By building on existing open standards and message sets this should enable the industry to more easily meet the DWPs goals of enabling swift, cheap and secure automatic transfers.