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The Pensions Regulator

Regulatory guidance

Regulatory guidance

Transfer values

This guidance helps the trustees of private sector occupational pension schemes providing defined benefits to understand the requirements for calculating transfer values. 

References are set out at the end of the guidance and are linked within the text.

View the Transfer values guidance
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Key points

  • This guidance helps trustees to understand the requirements for calculation of transfer values in defined benefit schemes, as of 1 October 2008.
  • The trustees' new responsibilities leave scope for trustee judgement in producing transfer values appropriate for their scheme. This guidance helps trustees in these areas of consideration.
  • It includes our views on good practice and outlines our expectations of standards the trustees should incorporate into fulfilling the requirements.
  • Scheme advisers and administrators will also need to consider this guidance in assisting their clients in developing practice and procedures that enable the production of transfer values which align to the new regime.