Pension Expert Claims Can help with a Pension Review and Help Transfer a Final Salary Pension.
The benefits of membership of a final salary pension scheme are long established so to transfer a final salary pension into a different scheme would appear to be financial madness. However, with the changes made to pension rules in April 2015 a final salary pension transfer can now be an attractive option for some individuals. Some of the benefits are highlighted below:
A final salary benefit can be a significant family financial asset. A transfer gives you control of this asset, which can now be passed down through the generations without inheritance tax.
A transfer offers you flexibility over how much you draw from your fund and when.
Making a transfer gives you more control of the fund to benefit any surviving spouse after your death
Transferring a final salary pension gives you the flexibility to take more income in your early retirement years.
You may have concerns about the long-term viability of your final salary pension scheme.
Drawing benefits from your own personal pension arrangement can be more tax efficient.
But there are also significant risks that must be considered in detail before making any decision to transfer a final salary pension, this is when you need to be an experienced Financial Advisor to perform a Full Market Pension Review.
Given the complexity and the risks involved it is essential to seek out appropriate Independent Financial Advice to aid your decision-making process. Safeguards are already in place with a legal requirement to get properly qualified Financial Advice on a final salary pension transfer when the transfer value is £25,000 or more. We work closely with Independent Financial Advisors that are qualified and experienced enough to deal with Final Salary Pension Reviews.
Not all Financial Advisers are qualified to offer advice on a Final Salary Pension Transfer. At The Pension Review Service, we are qualified and authorised to deliver Independent Financial Advice on transfers from final salary pension schemes. We will work with you to understand your needs and individual circumstances and guide you through the process to understand if the option to transfer a final salary pension is right for you. If a transfer is appropriate we will be with you every step of the way delivering the professional advice and support you need.
For a no-obligation preliminary discussion please complete the form on this page and one of our Advisors will be in touch, leave a note in the comments box if you require a call back on a particular day and time.
Have you had your pensions reviewed this year? Or do you just take the word of your provider that it’s doing the best it can for you? Do you know what you get charged each year? is it costing you money or making you money? These are some of the questions a Full market pension review will answer for you. We only work with fully qualified FCA approved IFA’s and only offer fully regulated onshore investments to our clients. Simply fill in a contact form and one of our team will call you back and get the ball rolling.