frozen pensions – CORPaTH

What to do if your defined benefit pension plan is frozen

CORPaTH2017-07-20T17:01:38-07:00July 20th, 2017|Categories: Defined Benefit Plans|Tags: frozen pensions|

If you happen to work for a private-sector employer who provides as a benefit a traditional pension, you might consider putting in place a back-up plan. Yes, in recent weeks, a number of well-known firms including UPS and General Mills have frozen the pay and service amounts used to calculate pension benefits for active employees who participate in the those plans. And more are likely to follow. In fact, in 2014, more than one out of three Fortune 500 [...]

Can I transfer my frozen final salary pension to my children?

I am looking for advice on whether I can transfer my frozen final salary pension to my children. Is this possible? I have a frozen company defined benefit pension with a current pension value up to April 2014 of £12,500 a year, which is subject to annual increases in line with inflation. I also have an ongoing company defined benefit pension showing an accrued pension as of March 31 2014 of £28,785 a year. In the future, even with [...]