Financial advisers are well placed to advise corporate clients on ways of improving outcomes for defined benefit schemes at risk of entering the Pension Protection Fund (PPF), according to the Occupational Pensions Trust (OPT).
Many schemes are unaware of scheme rescue options, OPT says, and financial advisers have a major role to play in helping maximise the benefits members receive. OPT's development director, Ben Shaw, says advisers with private clients who are worried about the future of their DB scheme could also step in to keep pension funds out of the PPF. The PPF places caps on the amount of income members can receive from their DB scheme if it is forced to enter the fund. "Even at these levels members in well paid jobs - those most likely to be IFA clients - may still face getting back a lot less than...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
