The Definitive Guide to Final Salary Pension Transfer 2018-09-18T10:32:08+00:00

FINAL SALARY PENSION TRANSFER GUIDE

Deciding whether to transfer out of your Final Salary Pension is an important decision that needs to be given serious consideration. But, it shouldn’t have to be an intimidating or overwhelming experience. In this guide to final salary pension transfers, we seek to give you balanced information to help you make the decision and analysis that’s right for you…

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WHY DID WE WRITE THIS GUIDE?

Across the UK requests for Final Salary Pension Transfer are at an all-time high.

Due to a number of economic factors, individuals with Final Salary Pensions have seen their transfer values soar over the last couple of years. Coupled with the drastic changes to Pension Freedoms announced by the chancellor in 2015, Financial Advisers have seen an influx of requests to transfer out from Final Salary Pension Schemes. Many individuals (and sadly some advisor firms who are not qualified to offer Pension Transfer advice) do not understand the complexity or risk involved with these kinds of transfers. We have written this guide to help those considering a transfer, it contains vital information that you will need to consider before you make your decision.

WHO IS THIS GUIDE FOR?

Anyone who currently has a Defined Benefit Pension also known as a Final Salary Pension, whether with an existing or previous employer and who is deciding whether to transfer out of their Final Salary Pension Scheme.

HOW SHOULD YOU USE THIS GUIDE?

Each chapter can be read individually, but to get the most out of the guide, you should read it from start to finish, take notes, and make a list of questions to ask your financial adviser when you speak to them. You can also bookmark the guide and come back to it for reference as needed.

It is important to understand that this guide does not constitute personal advice, nor should it be treated as such. It is provided for general information and it is vital (and in most cases a regulatory requirement) that you contact a Qualified Pension Transfer Specialist for personal financial advice and obtain a recommendation to transfer before opting out.

HOW DO I GET PERSONAL ADVICE?

If you would like to speak to an Independent Financial Adviser (IFA) who is also a Qualified Pension Transfer Specialist for personal financial advice, please contact us to arrange a free initial call where we will discuss your suitability for Pension Transfer and explain the next steps.

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TALK TO A QUALIFIED PENSION SPECIALIST

Sometimes it’s just nice to talk to a human. Especially when that person is a Qualified Pension Transfer Specialist with experience of Final Salary Pension Transfers. We offer a free, no obligation, 20-minute call with one of our specialists. Pick our brains, get your questions answered and find out how to get started or arrange an introductory meeting to get the ball rolling. Call us on 02380 981161 or send us an email at info@2020financial.co.uk.

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People who receive financial advice are on average £40,000 better off than their unadvised peers

Research by International Longevity Centre-UK (ILC-UK), 2017

9 in 10 people were satisfied with financial advice received, with the clear majority deciding to go with their adviser’s recommendation.

ILC-UK, 2017