How Britain's great final salary pension cash-in is grinding to a halt

The Telegraph

Britain’s great final salary pension cash-in is grinding to a halt, new figures show.

Although the past year has seen an unprecedented increase in the number and value of gold-plated pensions being swapped for cash lump sums, the most recent figures show a marked slowing.

It is thought that more than 100,000 people quit final salary schemes in the 2017-18 tax year alone, cashing in an average of £200,000 a time.

But high-profile scandals, including the cases of hundreds of steelworkers who believed they were wrongly convinced to cash in company pensions, have caused a rapid retrenchment to just 20,000 in the first quarter of this year...

...Telegraph Money reader Ian Handley paid around £5,000 to a specialist advice firm, Tideway, for arranging the transfer, and ongoing fees of 1pc a year in total to Tideway and Charles Stanley, a wealth manager, which jointly manage the pension pot.

Giving up a guaranteed income is “not for everyone”, he conceded, “but people should have the freedom to decide – for me it’s been brilliant”.

Read the whole article by following the link below.

More info:

Saturday 2 June 2018

Go back to the previous page


Tideway Investment Group comprises the following entities: Tideway Investment Partners LLP; Tideway Wealth Management Limited and Tideway Asset Management Limited. Tideway Asset Management Limited and Tideway Wealth Management Limited are appointed representatives of Tideway Investment Partners LLP, which is authorised and regulated by the Financial Conduct Authority. FCA number: 496214.

Tideway Wealth Management Ltd
107 Leadenhall Street
London EC3A 4AF

+44 (0)20 3143 6100

© Tideway Investment Group 2019