Anna Rogers comments in the Financial Times re Spouses in the dark over trustee pension transfer
Anna comments in The Financial Times on spouses being in the dark over pension transfers after the changes which came into force in April and gave over-55s full flexibility to do as they wish with savings built in so-called “defined contribution” pensions.
“It is not just the elderly who are vulnerable,” explained Anna, “the government has given members freedoms but it is also means the freedom to make some poor decisions. Trustees are in very difficult position because they don’t want members to make poor decisions.”
Anna also says some trustee boards are now planning to ask for spouse’s consent before they will agree to a transfer request.
“This consent will say that I understand what my partner is trying to do with the money and will need to be witnessed by a solicitor,” explained Anna.
Read the full article in the Financial Times here.
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