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Defined Benefit (DB) pensions: What you need to know

Making Money

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Understanding Pension Transfers: Risks and Considerations

This chapter explores the complexities of transferring out of defined benefit pension schemes, particularly focusing on the paradox of pension freedoms introduced in 2015. It highlights the allure of flexibility contrasted with the risks, scams, and financial implications linked to such transfers. The discussion emphasizes the necessity of informed decision-making and the importance of seeking regulated advice to navigate potential pitfalls and ensure sustainable retirement planning.

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