pensionsandsavings.com, Wednesday 5 April 2017
A very well balanced and independent article by Ros Altmann, the former pensions minister
Last night I attended an interesting event run by the Financial Times. A large group of people came along to learn more about transferring out of Defined Benefit pension schemes.
It was an interesting session. I thought it might be helpful to outline my views on this issue, as the conventional thinking is not necessarily fully reflective of new realities. This is not meant to be giving anybody financial advice, this is about highlighting the important issues that need to be considered, understanding the questions you need to ask and the value of getting financial advice. Whether or not to transfer out of a final salary-type scheme will depend on a complex array of factors that will be personal to each individual. There are some rules of thumb that can be given, but even then it will be best to try to find a financial adviser to help you make sure you’ve considered all the vital issues. I am trying to give a more balanced view here...
Read the full article by following the link below.