By Stephanie Hawthorne Defined benefit (DB) trustees should make partial transfers a standard option for their members due to the mix of income security and flexibility this can offer, according to a report from LV.
The report, titled ‘Why partial transfers should be a standard option’, stressed the need for greater understanding of partial transfers among trustees, schemes and members.
Since the 2015 pension reforms were introduced, there has been a marked increase in defined benefit members requesting a transfer.However, most schemes only offer single transaction transfers which are often not suitable for the majority of members.Partial transfers can offer a […]
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