Publication
Keeping your dawn raid guidance current
Unannounced inspections or ‘dawn raids’ are used by antitrust authorities to obtain evidence when there are suspicions that individuals or businesses have infringed the antitrust rules.
United Kingdom | Publication | May 2022
Updated guidance sets out good practice for trustees and administrators for processing defined benefit (DB) transfers.
Published on May 3, 2022, by the Pensions Administration Standards Association (PASA), the guidance sets out principles for achieving a “faster, safer and more efficient” transfer experience. These include the need for clear and timely member communications, keeping members and other third parties informed about delays, and wherever possible using standard transfer templates for scheme and member information requests.
The guidance also has practical tips for improving member experience, such as supplying an early retirement quote when a member is over normal minimum pension age and moving to online identity verification rather than asking for paper-based ID.
In the light of industry feedback, the final guidance does not set out specific timescales for tasks.
Publication
Unannounced inspections or ‘dawn raids’ are used by antitrust authorities to obtain evidence when there are suspicions that individuals or businesses have infringed the antitrust rules.
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