Transfers out of private sector final salaries pensions boomed in 2017

Transfers out of private sector final salaries pensions boomed in 2017

There was a dramatic increase in the number and the value of transfers out of defined benefit (usually final salary) pension schemes in 2017, but is it the right decision for you? A recent Freedom of Information (FoI) request to the Financial Conduct Authority (FCA) revealed that the £20,800 million was transferred last year which is up from £7,900 million in 2016. There were 92,000 transfers, compared to 61,000 in 2016…