Pension transfers have passed the £60bn mark as more than a third of a million people access their defined benefit (DB) pots, a Freedom of Information (FOI) request has revealed.
The data, supplied to Royal London, showed there have been 390,000 transfers out of DB pension schemes since Freedom and Choice came into force in 2015, with the value of the transfers totalling £60bn....
'People miscalculate how much they need'
Information request by AJ Bell
Could lose 97% of investment
'Document your conversations'