In this IIL financial services webinar, Claire Trott explores some of the current issues and concerns with regards to transferring pensions from one scheme to another, paying particular attention to any detriments that may not be immediately apparent.
Pension transfers are a complex area requiring significant analysis in some cases. Care needs to be taken to avoid unintended consequences that ever-changing legislation has brought with it.
In 2028, we will see a change in legislation that will increase the normal minimum pension age to 57, from 55. This isn’t the case for all pensions, and some will retain the earlier age, transfers and the timing of them will impact on this. The speaker highlights and discusses what this means and what can be done to protect the age of 55 if possible.