When a client asks whether they should transfer their defined benefit (DB) pension, the answer is often clear cut. Most people lucky enough to have a DB pension will be best advised to stick with it.
Equally, for the very wealthiest clients, a transfer to the flexible world of defined contribution (DC) is likely to better suit their needs than a guaranteed (but inflexible) DB income. But what about those in the grey area? Could a partial transfer be the answer?
Jail break Financial Conduct Authority (FCA) rules state an adviser’s starting assumption should be that a DB transfer is […]
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