Pension switching specialist advisers pointed to managing the lifetime allowance for defined benefit (DB) transfer clients as the biggest challenge they face, according to a survey by Old Mutual Wealth.
Just more than half (54%) of specialists said they would benefit from more additional support and education on the lifetime allowance, while half (50%) pointed to the challenges surrounding managing the investment risks for DB transfer clients as a major concern. Some 35% of those surveyed said they would like more support managing the tapered annual allowance for pension clients, while just less than a quarter (23%) saw death benefit flexibility and tax efficiency within a defined contribution (DC) pensions as a concern. The advisers were less worried about managing the money purchas...
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