In recent years final salary pension schemes have been phased out by employers because people are living for longer and the uncrystallised liabilities are wreaking havoc with corporate balance sheets. Robert Blumberger explains why this is happening and sounds a cautionary note for those attracted to the idea of transferring.
Transferring a final salary (DB) pension may look attractive, but there are disadvantages. For many, it may be best to retain those benefits and remain in the scheme. Find out why you might not want to transfer away.
The new income flexibility and greater inheritability of pension wealth could see conventional wisdom on retirement income planning flipped on its head. From April, it could pay to retain pension savings within your pension and take income from other investments first. With tax free allowances totalling £26,600 for income and capital gains each year, retirement [...]