Since the dawn of pension freedoms and the ability for those in defined benefit schemes to transfer their funds into a defined contribution arrangement, a record number of transfers have occurred. Taking the decision to move out of a guaranteed income scheme to one which is reliant on stock market performance isn’t a decision to…

Guaranteed Minimum Pensions (GMP) came about when employees opted their employers out of the State Earnings Related Pensions Scheme (SERPS) between 1978 and 1997. The common pension vehicle for this was Defined Benefit/Final Salary Schemes, where benefits were built up alongside employee benefits. In 1990, it became law that all UK pension schemes should allow…

We are currently in a period where defined benefit schemes are being transferred in record numbers. Low long term gilt yields are fueling an unprecedented demand to forego the safeguarded benefits within such schemes for more flexible access to a pension pot. Just last week, one of the largest pension administrators, JLT Employee Benefits, said…

Billions of pounds worth of pension assets are changing hands today in the UK. Several factors are behind the change including regulatory changes and new demands from investors. What do these changes mean for you and your financial future? Pension Transfers In The News What exactly is happening when it comes to pension fund transfers?…

Those with final salary of defined benefit pension plans, who were looking to transfer their benefits may be in luck. The vote to leave the EU has, as experts predicted, had some negative economical effects. One of which resulted in gilt yields falling to historic lows. Why is this important? Well, gilt yields are largly…

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