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Record number of savers abandon final salary pension schemes

Financial Times

The amount of money flowing out of traditional “final salary” pension schemes more than doubled last year, as record numbers of savers traded guaranteed retirement benefits for cash lump sums.Figures released by the Financial Conduct Authority following a freedom of...

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'I transferred my £570,000 final salary pension - and regret it'

Final salary pension transfers are grinding to a halt following curbs by the City watchdog and insurance companies’ fears of an impending mis-selling scandal.At the same time, the portfolios of the hundreds of thousands who have already transferred have begun to suffer as a...

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Transferring your pension? Proceed with care

The Times

Thousands of people are losing their life savings to rogue advisers. We explain where to find the right guidance Hundreds of thousands of people transferred £15 billion in savings from defined-benefit (DB) pension schemes to more flexible, but less secure, pension...

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