Drawdown-averse funds lead transfers to dearer products

Many members taking transfers cite the lack of flexibilities within their existing scheme

James Phillips
clock • 2 min read
Drawdown-averse funds lead transfers to dearer products

Pension funds offering flexi-access drawdown (FAD) products are less likely to see members transfer out at retirement, XPS Pensions research funds.

Meanwhile, those members who do decide to transfer out tend to move into more expensive personal pension products, with just 24% moving to workplace pensions. The consequence is that such savers...

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