Written by Pensions Age
The DWP has announced pension transfers will operate on a federated system rather than being centrally managed. The system, which will be facilitated by pension schemes rather than employers will initially operate on an opt-in basis before moving to an opt-out system later on. During phase one a limited number of schemes will take part so that the infrastructure can be tested.
In a sector with so much complexity, to what extent is RegTech solving the real compliance issues facing financial services?
UK finance is changing forever. Sweeping reforms promise a new era for the sector: one that’s more open, more regulated and, potentially, far more collaborative. All this is very good news for SMEs.
It may be a while before pension funds ask their asset managers whether they use blockchain, says Ben Cocks