Who should do a final salary pension transfer? Well a final salary pension transfer is certainly not for everyone.
With a final salary pension transfer you are taking all the investment risk yourself.
If you keep your final salary pension then it is up to your employer to make sure there is enough money to pay for that pension, and even if they (your employer or past employer) can no longer afford to pay for their DB pension scheme, then the ‘Pension Protection Fund (PPF)’ will take over and normally pay at least 90% (up to £40,020 p.a. at age 65 from April 2019) of your final salary DB pension. So, if you are not someone who wants to take any risk with your pension whatsoever then a transfer is probably not for you (unless you are in very bad health with possible inheritance tax issues if a transfer takes place when in ill health and death occurs within 2 years ). That said, this is such a complex area, you really do need an expert to help guide you through the Final Salary Pension transfer maze. In fact, anyone with a CETV of over £30,000 must now, by law, seek professional advice before they transfer.
So, to determine if a Final Salary Pension transfer is right for you or not is a difficult and expert job. What we do at Final-Salary- Pension-Transfer.uk is to put you in touch with some of the country’s leading experts in Final Salary Pension transfers. We ensure that the Final Salary Pension transfer specialist is not only FCA approved but accredited/chartered (and preferably has The Pension Transfer Gold Standard) as well to ensure you get the best possible Final Salary Pension transfer advice.