Typical DB transfers worth more than the average house price
Worth 25 - 30 times annual pension value
Steve Webb: “It is clear that large and growing numbers of people are choosing to exchange the promise of a regular pension in retirement for a large cash lump sum."
The typical value of defined benefit (DB) pension transfers is now greater than the average price of a house, according to research by Royal London.
The provider found the most common transfer value lay in the range of £250,000 to £500,000. By comparison, the average UK house price was £216,000 in March 2017, it said. Royal London said the volume...
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