Take the right steps before you transfer out of a DB pension

Take the right steps before you transfer out of a DB pension

If you're lucky enough to have a final-salary or defined-benefit (DB) pension, the annual value of the retirement income it pays you will be based on a percentage of your salary multiplied by your years of service at the employer providing it. Almost nothing can change this entitlement, meaning a DB pension is a very valuable benefit. And although there are some instances where it could be beneficial to transfer out of one of these, you shouldn't do this without careful consideration and professional advice.

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