An individual transferring a £230,000 defined benefit (DB) pension could lose up to seven years of retirement income if they draw a fixed sum of £10,000 a year, according to XPS Pensions Group research.
In its Member Outcomes Under Freedom and Choice report published on 06 August, XPS Pensions Group highlighted how the charging structure of a receiving vehicle during a DB transfer significantly im...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
