However, despite worsening returns, last month the number of savers increased and we switched.
Mark Barlow of the XPS pension group said the increase could be due to a living cost crisis, as savers struggle to earn income and rely on pensions.
“It’s interesting to see a slight increase in the number of members who complete transfers during May, despite the continued decline in transfer amounts. This is where people make informed decisions and fraud. It highlights the importance of providing support to people so that they are not susceptible to the teacher’s influence, “he said.
As the future cost of final salary pension financing goes down, the transfer amount is inversely proportional to the gold yield.
“The big drop in recent months reflects the fact that we can make 1.5% more government bonds than in November. Small changes in market conditions can make a big difference in the value of promised pensions. There is a sex, “says Barlow.
According to XPS, cashouts have fallen to their lowest rates since June 2016.
Switching from a defined benefit pension to a defined contribution pension gives you more flexibility, but much more responsibility and risk. Those who wish to transfer a defined benefit pension of £ 30,000 or more must seek regulated financial advice.