How savers are being blocked from cashing in gold-plated pensions
The amount you can receive from transferring out a gold-plated defined benefit pension that pays a regular income has plummeted 42%.
Source: thisismoney.co.uk
Simon Torry News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Stay updated with breaking news from Simon Torry. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Top News In Simon Torry Today - Breaking & Trending Today
'I feel more in control of my money': why these savers gave up their guaranteed pensions
Savers planning to transfer pensions face an uphill battle but the fight has paid off for some 7 April 2021 • 5:00am Alberto Medeiros has chosen the best of both worlds by transferring half of his pension Credit: Daniel Jones/ Daniel Jones Transferring money out of a "gold-plated final salary” pension can be a complex and financially dangerous decision. However, there are times when it works in favour of a retiree despite having to jump through hoops to manage their own savings. More than 50,000 pension savers ditch their defined benefit pension every year, moving a lump sum into a ...
Source: telegraph.co.uk