When looking at options for funding your retirement, it’s important to understand that your pension pot will be invested – and as with all investments, your capital is at risk.
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.
If you want to transfer your final salary pension you will need to take advice. Their recommendation will help you decide what to do for your retirement income.
Here are eight advantages of a final salary pension transfer – but it’s important to stress that there may be other reasons, for and against approving a pension transfer request.
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.