Since the pension changes we have seen a rise in employees wanting to transfer their defined benefit (DB) pension scheme into defined contribution (DC) pensions.
However, transferring from a DB pension scheme can mean that employees will be giving up valuable guaranteed benefits and they might find themselves worse off.
Partial transfers could be a good option and middle ground for employees torn between sticking with a guaranteed income and transferring all of their benefits.
Do you offer employee’s partial transfers within your defined benefit pension scheme(s)?
You can take part by clicking here.