Defined Benefit and Final Salary Pension Transfers


Safeguarded Benefits


Moving all pensions into one place.





I have years of experience dealing with all types of pension transfers and being completely Independent means you’ll always receive the best advice.

There are many areas of financial advice, but I focus my area of expertise in pensions. With the continued tinkering by successive governments and regulation, there are an unquantifiable amount of schemes, each with their separate rules.

Transferring a pension is a decision which could have big financial implication if done incorrectly. My commitment is to fully understand your existing schemes, situation and your future plans, only then will I make a recommendation to either transfer, or if more appropriate, stay within the scheme.


The recent pension reforms have seen an increase in people wanting to move to Income Drawdown.

Pensions with safeguarded benefit such as final salary schemes are unable to take advantage of the flexibilities now available under Income Drawdown or Flexi-access drawdown, as it’s known. If you’re considering drawdown and need a pension transfer specialist to help you move your pension, lets have a chat. I have put together a useful site which highlights the features and costs of some popular Income drawdown schemes.

Compare  Drawdown →


Regulation stipulates that in order to transfer a pension with safeguarded benefits, you need to seek advice from a suitably qualified pensions adviser.

The pension transfer qualifications are in additional to those required to be a qualified financial adviser. I have many years experience in ensuring my clients receive the best outcome.



Final Salary

Occupational schemes based on your salary and length of employment. 

Defined Benefit

Occupational scheme where you pension income benefits are know and not reliant on stock market performance.

Guaranteed Minimum Pension (GMP)

Contracted out, salary related pension benefit.

Guaranteed Annuity Rates (GAR)

Schemes offering a guaranteed income rate, irrespective of current market annuity rates.

Occupational Money Purchase

Occupational schemes with a varying fund value.

Guaranteed Level of Income

e.g. Under a Retirement Annuity Contact (RAC) or deferred annuity

Section 9 2 (b) Rights

i.e. contracted out pension service post 1997 under a scheme that contracts out on the Reference Scheme Test basis


Transferring many pension schemes into a new more cost effective and flexible plan. 


Professional on all levels
     I have recently transferred my works pension into a SIPP and utilised Phil's expertise to provide me with financial advice, independently of my own Financial Advisor. This advice included a telephone interview and culminated in the production of a detailed report into my current and forecasted future financial status. Throughout the process, I found Phil to be professional on all levels and would recommend his services to anyone going through the same process.
Paul R
Phil is very professional and explains everything in minor detail
     I retired early at the age of 55 last year, there was a lot of talk at work about the benefits and risks of leaving a final salary pension scheme. I needed to get some professional advice, and I was given Phil Handley’s details by a colleague at work. I met with Phil and discussed what I wanted to do with my pension. After researching the industry, he advised on a scheme that was similar to the one I had been looking at, only this scheme was better. He sent me a bespoke report, with his analysis, which showed the best scheme that would fit with my needs. I decided to transfer my company pension into a low risk investment drawdown scheme. Phil is very professional and explains everything in minor detail, there are no up-front fees and he is very thorough in making sure you are in full control of your decisions through his advice. It’s one of the best decisions of my life, I can now plan and manage my pension to suit my needs Phil is a genuine good guy and would definitively recommend him to anyone seeking similar advice on one of the most important decisions of your life. I am still able to call on him with any questions I might have about my scheme and he is happy to help. I have already recommended him to other colleagues at work and friends who are seeking similar advice
Dean E
Would recommend to anybody who is thinking of transferring
     Was very unsure about the process of transferring my pension. Went to see Phil and he explained the process which removed any doubts that I had. Would recommend to anybody who is thinking of transferring. Myself and 2 colleagues transferred at the same time and since then Phil has helped several more colleagues. The fees are reasonable too. No hesitation in recommending Phil.
Martin W
Phil's over extensive conversations covered all avenues.
     I found myself looking at options to migrate my pension pot to Income Drawdown. During this process I had discovered the pitfalls of going it alone, some fund holders and trustees are not content to proceed without professional advise, even the government guidance schemes are not seen as acceptable. Phil Handley, through his patience and experience guided me through all possible avenues until we ended up with a plan that I was happy with and he was happy to recommend. Yes, I now have have a plan I am very comfortable with and one that I fully understand.
Paul B
Phil investigated all the options and ultimately presented me with clear, workable proposals for me to consider.
     Having been diagnosed with a terminal disease close to my 61st birthday. I wanted to see if I could retire now (5 years prior to my state pension age) so I could do all those things I had been delaying till my retirement whilst my health is still good. I would also add that I was one of those unfortunate women whose state pension date was moved on twice from 60 ultimately to 66. So the extra 6 years of work was not really part of my life plan. Phil patiently explained the terminology and the recent changes to the pension legislation. I outlined my 5 year plan to see if my private pensions could fund early retirement but with an acceptable level of income. Phil investigated all the options and ultimately presented me with clear, workable proposals for me to consider. I have just retired. Phil is handling the arrangements for the proposal I instructed him to proceed with. I have achieved, with sound financial advice from Phil, my aim of retiring early and to maintain my quality of lifestyle. I would add that at every step my family checked and vetted the advice given and been wholeheartedly in favour of Phils proposals. I would not hesitate to recommend Phil Handley to anyone seeking pension/retirement advice.
Kim E
The advice given was well researched and fine-tuned for my risk level
     I initially approached Phil for assistance in the Private Pensions selection process a couple of years ago and although the initial advice was good I didn't proceed. I then came back a year later and to speak with Phil again. The advice given was well researched and fine-tuned for my risk level, my security and peace of mind. I chose to wait until I felt the market was right, during which I was contacted by Phil for updates without feeling pressurised. Once ready I went with the agreed proposal and I feel that not only have I saved money due to this informed advice and explanation of how the markets work, but also due to the timing. I would certainly recommend Phil to friends.
Marie M



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Case Studies

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