Record numbers of people are transferring out of their defined benefit pension schemes in exchange for a fixed pot of money. But is this new ‘gold rush’ finally running out of steam? Article by Nick Green.
Holders of defined benefit (final salary) pensions have been transferring them at an unprecedented rate, according to the latest figures from the FCA. Defined benefit pension schemes, which provide members with a guaranteed income for life from their retirement age, can be exchanged for a defined contribution pension, which is an investable pot of money accessible from the age of 55. People are […]
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