Pension transfers too generous, says regulator
The BBC ran an article in August that the UK Pensions Regulator has written to 14 pension companies providing "defined benefit" retirement schemes encouraging them to consider making reductions in payouts. Some schemes have been offering higher payouts to decrease their risk as people are living longer. The problem can be those left in the schemes, the companies may not be able to meet their commitments.
While there are disadvantages to transferring out of a defined benefit scheme there are also some major advantages to. We will discuss these with you.