If you have pension benefits within a previous employer’s final salary pension scheme you should take immediate advice……..from The Pensions Office, or course!

After a thorough assessment it may well be the case that a transfer of those benefits to a personal pension would be likely to result in financial loss and, in these circumstances, The Pensions Office will recommend you retain your benefits in your existing scheme. This happens with around 60% of this type of enquiry to The Pensions Office.

However, where we recommend a transfer the advantages to our client can be substantial. By way of summary, a transfer can often benefit the scheme member in one or more of the following ways:

▪            higher tax free cash

▪            immediate benefits, without actuarial reduction

▪            higher death benefits

▪            choice of beneficiary of death benefits

▪            higher pension benefits

▪            ability to take tax free lump sum but defer pension

▪            flexiblity of the level of pension benefits, from year to year

▪            personal control over investment strategy

▪            no risk from financial troubles within the employer’s pension

▪            scheme and the company itself

▪            ease of valuation at any time

The procedure to instruct The Pensions Office is simple. We require you to complete our questionnaire to enable us to ascertain such details as your personal and financial circumstances, your requirements from your pension scheme and your attitude to investment risk and reward. Completion of this form usually takes around 15 minutes. If you prefer, a consultant from The Pensions Office will be pleased to complete this with you over the telephone. You then sign a standard letter of authority to enable us to obtain full details from your existing pension scheme.

No fee is payable, and you are under no obligation at this stage.

When our assessment is complete we will send our report and recommendation for your consideration. We will be happy to talk with you about any aspects of this report and recommendation, helping you to make your decision.

If this sounds very simple, it is! So, don’t delay…..