Overwhelmed by all the pension jargon? Fear not, our pension glossary has you covered. All the important terms and acronyms explained right here.
What is a Section 32 Buyout?
Section 32 Buyout policies were introduced in the 1980s and were used to transfer your pension from your employer to an individual pension if you left a company. They’ve been largely replaced by personal pensions, but you may hold a legacy S32 pension. Some of these pensions may have special guarantees attached, so it’s worth checking what’s available if you have one.