Ford set to offer partial transfer option to members

Ford set to offer partial transfer option to members

Ford is at the final stages of implementing partial transfers Motoring giant Ford has agreed to offer members of its UK defined benefit (DB) scheme the right to partially transfer their pension.

The £12.9bn Ford pension scheme will implement a 50% cash equivalent transfer value, based on 50% of an individual’s pension and 50% of the maximum tax-free cash. This will be available for its 8,500 active employees at the point of retirement.

The company said it was introducing this option partly due to Freedom and Choice, with a spokesperson noting the company was "very aware" that the option for employees […]

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