Why Consider A UK Pension Transfer?
Inflated Transfer Values
Firms are actively trying to de-risk their liabilities by incentivising members to transfer their UK pensions. This combined with the expectation that bond yields will remain low for longer has resulted in Cash Equivalent Transfer Values (CETV) for UK pension transfers hitting record highs.
Concerns Over Final Salary Schemes
For firms with large final salary pension schemes commitments, operating in the present climate is challenging to say the least. If they go under, your retirement income could be at risk of falling into the Pension Protection Fund (PPF)
UK Pension Reforms
In 2015 the UK Pension System changes announced by then Chancellor George Osborne came into effect, meaning that anyone with a final salary scheme had the option to transfer out of their scheme to benefit from greater investment freedom upon reaching 55.