Feb 3, 2021
When can I able to transfer my defined benefit pension?
Suppose you are in a private-sector defined benefit pension plan or a funded public sector plan. In that case, you can transfer a defined contribution pension until you have already received your retirement. A fixed contribution pension is readily available at age 55, so this seems like an attractive option.
But if you transfer from a DB pension plan, you are offering valuable benefits and maybe worse than you, even if your employer gives you no incentive to switch. It is a good idea to consult a regulatory financial advisor who specializes in defined benefit pension advice before you make a decision.