22nd May 2017
Prudential: Would you take a tennis racquet fishing?
Les Cameron, Head of Technical at Prudential, explores defined benefit pension transfers from a technical viewpoint, tackling the topics such as transfer values and transfer drivers.
Total access to your pension fund, the reduction in tax on death benefits and the ability for non-dependants to ‘inherit’ your pension were game changers in the advice world.
In a very short period of time, it has taken two niche, high-risk advice areas – choosing drawdown over an annuity and choosing to transfer your defined benefit (DB) pension to a personal defined contribution (DC) arrangement – and placed them firmly into mainstream planning.
In this article Les, takes a look at transferring DB pensions. It should be remembered that not all DB members have the option of transferring out to access flexibility.
Read the full article here.
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