Charlotte Moore speaks to People’s Partnership’s CIO Dan Mikulskis
Regulator urges industry to drive consolidation for the benefit of savers
Regulator says reforms must be guided by a ‘consensus’ on what good outcomes look like
Savers with DB schemes able to derive more from their pension towards retirement income
Report follows DWP consultation to help savers understand retirement options
Outcomes have improved for scheme members choosing to transfer, according to research by XPS Pensions.
An individual transferring a £230,000 defined benefit (DB) pension could lose up to seven years of retirement income if they draw a fixed sum of £10,000 a year, according to XPS Pensions Group research.