If you have a pension or pensions from multiple employers, or old personal pensions, it can be difficult to keep track of them all. Consolidating your pensions into one pot is a great way to gain control and oversight over how they are doing and where they’re invested. By consolidating your pensions, you’ll benefit from…
Why are defined benefit/final salary transfer values going down? Defined benefits transfer values are going down because of changing market conditions which affect the calculation of benefits. Rising inflation and rising longer-term gilt yields from historic lows are a perfect storm for the decline of transfer values. A gilt is a UK government bond. It…
What is Final Salary Pension Transfer Advice? There are many different types of pensions in the UK; however, for final salary schemes, if you are looking to transfer your benefits, you need a final salary pension transfer adviser, also known as a Pension Transfer Specialist, these advisers have the relevant permission and experience to help…
A Pension Transfer Specialist is a UK qualified adviser who has taken additional qualifications to advise on pensions with safeguarded benefits. Essentially, pensions with a promise to pay pension benefits can only be advised upon by an adviser who has the relevant qualifications. The caveat to this is if the benefits are less than £30,000,…
Abridged advice is designed to help advisers filter clients for whom a pension transfer is unlikely to be suitable. It provides a mechanism to engage with someone who wishes to discuss their possible defined benefit transfer, but without going into full advice and most importantly committing the client to the full costs of advice. It…
This is a question I get asked by many clients that what affects affects benefit transfer Values Should I transfer now or wait for the value to go up in the future? What’s Affecting Understanding Defined Benefit Transfer Values The short answer is that we don’t know. What we do know is that there are…
Client Situation £1,400,000 No spouse, 2 children Age 55 Has other deposit based savings of £350,000 Has no debt Outgoing of £40,000 per annum Plans to work until 65 with an income of £80,000 Are you in a similar situation? Request a consultation Learn more about transferring assets here I reviewed a client who had…
Pension tax allowances are a critical consideration for anyone thinking about transferring their defined benefit (DB) pension. The landscape changed significantly in April 2024 when the Lifetime Allowance (LTA) was abolished — and understanding what replaced it is essential before making any transfer decision. In this guide, we explain the current pension tax allowances that…
If you are considering transferring out of a defined benefit (DB) pension scheme, understanding the regulatory framework that governs this advice is essential. The Financial Conduct Authority (FCA) plays a central role in overseeing how pension transfer advice is given in the UK — and for good reason. Transferring a defined benefit pension is one…
When someone transfers out of a defined benefit (DB) pension scheme, they exchange a guaranteed income for life in favour of a pot of money invested in the stock market. Once that decision has been made — following regulated advice from a qualified pension transfer specialist — one of the most important choices remaining is…