There needs to be wider access to partial transfers out of defined benefit (DB) schemes, according to a joint paper published by Royal London and Lane Clark & Peacock (LCP).
The research paper - published on Tuesday (1 October) - has renewed calls for the halfway house approach, and presents potential advantages to trustees, employers, advisers and scheme members of these types of transfers. Claiming it would be a better option for those whose lifetime pension rights lie in a single DB scheme, the paper includes two pieces of research assessing industry attitudes to partial transfers. A survey by Royal London - which questioned 350 financial advisers - found that around five in six advisers agreed they want to see more schemes offering partial transfers,...
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