Retirement Planning

Final Salary/Defined Benefit Analysis Service

Rising life expectancy and financial crisis, left many final salary pension schemes under-funded causing them to close and be replaced by defined contribution schemes.

The closure of many schemes and the introduction of pension freedom has led to many members considering the alternatives to drawing a pension via their employers’ scheme.

Why should you review your defined benefit pension?

Before the introduction of pension freedom, the general stance on final salary and defined benefit schemes was that they were the golden ticket to retirement, offering an attractive, fixed income for life with the investment risk borne by the employer.

However, the increase in transfer values along with pension flexibility has made it more appealing for many members to consider transferring their benefits.  These higher values can reduce the investment risk required to achieve the same level of pension.  Coupled with this are a number of other reasons to consider a transfer:

Why do I need advice?

For any defined benefit transfers over £30,000, it is a regulatory requirement to obtain financial advice.  Providers and schemes will not accept or pay a transfer without it being signed off by a qualified adviser.

Our Defined Benefit Analysis Service covers five stages:

Defined Benefit Pension Schemes

We have recently completed transfers or advised on the following defined benefit pension schemes:

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