ViaNova Transfers Announce Start Date
The ViaNova working group in partnership with the TeX announce the start of the ViaNova transfers project.
The ViaNova transfers pilot scheme is slated to start on 1st December 2020.
The pilot project will implement electronic corporate pension transfers based on the market practices developed by the UK funds market practice group and will take place under the SLAs of the Tisa Exchange (TeX).
Four major third party administration firms, members of the ViaNova working group, are planning to join the pilot scheme which will run for nine months.
The pilot project will see the automated transfer of investors corporate pension holdings between platforms. Negotiations are currently under way with trustees to ensure an efficient and secure path forward for the industry.