transferring out of DB pension

jamesd

dunstonh wrote: »

Australia is 20 years ahead of the UK on pension freedoms and it found that a third of pension assets was withdrawn by age 55

Which assets is that referring to, given that the Australian system has a state payment, company and industry-specific super schemes and standalone personal pensions? It's also perhaps of note that medical treatment and financial hardship are reasons to withdraw money before the age 55 restriction that applies to money paid into a super scheme since 1999. This makes their system in effect also a form of hardship and medical cost saving scheme.