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