With the introduction of the new Pensions Freedoms in 2015, those in defined contribution (DC) arrangements have much greater control and flexibility as to how to take their pension benefits. As a result the industry has seen more and more enquiries from members of defined benefit (DB) schemes looking at the pros and cons of transferring to a DC arrangement to take advantage of these freedoms. While gilt yields could change, recently, low gilt yields have meant that for many people seeking advice on a Cash Equivalent Transfer Value from a DB scheme could be a more attractive proposition, as transfer values could be higher than ever.
We know there are many reasons that make advisers cautious about this market but we believe Scottish Widows are well positioned to help you take advantage of the advice opportunities this market offers.
DB Advice Resource Centre
For more expert support including DB to DC case studies, visit our new DB advice resource centre.
Should you require further information or would like to talk to a Scottish Widows representative about how we could support you, please email the following: DBSupport@scottishwidows.co.uk.