DB pension transfer compensation 'slashed' amid rising annuity rates

Holly Roach
clock • 1 min read

Defined benefit (DB) pension savers may be due "significantly less compensation" when transferring as a result of soaring annuity rates, analysis by OAC reveals. OAC - part of the Broadstone Group - revealed many people who have been previously "ill-advised" to transfer out of their DB scheme are likely to be due less compensation as a result of the rising annuity rates over the last 18 months. The firm said the recent increase in annuity rates means transferors are projected to secure a "historically high" level of guaranteed income from their remaining pension pot which will "minimi...

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