Pension transfers leaving savers at risk of being worse off in retirement

People’s Partnership finds over a third cite streamlined finances as reason for transfer

Martin Richmond
clock • 3 min read
Pension transfers leaving savers at risk of being worse off in retirement

Retirees could be left more than £70,000 worse off in their retirement due to a lack of awareness around fees and charges when transferring their pension, research from People’s Partnership finds.

The research, conducted by the provider of The People's Pension, which provides the pension to 6.5 million people across the UK, surveyed 1,000 defined contribution (DC) members aged between 18 and...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

CDC schemes can provide fairness for members, LCP says

CDC schemes can provide fairness for members, LCP says

Consultancy says CDC schemes will need to earn the trust of members and employers

Martin Richmond
clock 17 February 2026 • 3 min read
Industry calls for whole market approach to FCA pension transfer reforms

Industry calls for whole market approach to FCA pension transfer reforms

Consultation responses suggest proposals risk creating ‘disjointed’ and ‘confusing’ experiences

Martin Richmond
clock 11 February 2026 • 5 min read
SPP issues response to FCA digital pension planning consultation

SPP issues response to FCA digital pension planning consultation

SPP says it broadly supports FCA proposals but criticises ‘overly ambitious’ timeline

Martin Richmond
clock 09 February 2026 • 2 min read
Trustpilot