Are pensioners allowed to transfer out of a DB scheme once their pension is in payment? Or do we just assume that no pensioner would want to do that?
Hi Lucy, I think it would be unusual for a scheme to allow pensioners to transfer out whenever they wished because it would expose the scheme to selection risk eg a pensioner who learned they had a life-limiting illness would be tempted to take a transfer out so they could pass on the transfer value to their dependants.
