There are few issues as contentious in the world personal finance right now than defined benefit pension transfers. The question of whether or not to transfer a cash equivalent transfer value from a final salary pension to a private arrangement has taken up pages of commentary in our trade press and been subject to much debate. The recent ‘perfect storm’ of low gilt yields and introduction of so-called pension freedoms has brought decisions to transfer into sharp focus. With such large sums of money at stake, and irreversible decisions being made, it’s essential to get this right.
Should I transfer my defined benefit pension?
This 961 word blog post explores some of the factors in favour of transferring from a defined benefit pension to a private arrangement, as well as some good reasons not to transfer. Written on 21st May 2018.