Transferring from your company pension – or not….
Recent changes in the way many final salary pension schemes are valued have led to a significant increase in the resulting values. This has resulted in an increase in inquiries from clients considering transferring out of their pensions. Approach with caution!
While there are some compelling reasons why a transfer out of a final salary pension might be in your interest, the loss of guarantees in particular needs careful consideration.
I’m afraid that the world of pensions is a complex one and although personal pensions are now enjoying greater flexibility, simplicity and lower charges than ever, the same cannot be said for final salary pensions.
Pensions investment policy expert and economist, Ros Altmann has written an article on this subject at:-