Let's face it - advising someone on whether they should transfer their deferred benefits out of a final salary scheme is one of the trickiest things for pensions advisers.
This decision has its grounding in figures, methodology and analysis. But often it also has to take into account predictions, guesswork and personal feelings. However, over the last couple of weeks two big decisions on defined benefit transfer values have been made. And while neither gives advisers absolute clarity, they both have moved the subject on, giving a few insights into the way this area is developing. The first was the DWP's announcement of the future basis for the calculation of defined benefit transfer values. The new basis will, more or less, allow schemes to continue to calc...
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