Get more flexibility from your defined benefit pension.

What is a Defined Benefit Pension?

Sometimes called a ‘Defined Benefit’ or ‘Occupational’ pension, a Defined Benefit Pension pays you a set amount of money for the rest of your life once you retire.

While this can provide valuable benefits and security, you also have the option to transfer your Defined Benefit Pension into a more flexible Personal Pension.

Your pension will offer you a ‘Cash Equivalent Transfer Value’ – the cash value placed on the total benefits of your pension. If you don’t have one of these, you can request one from your pension scheme.

There are many points to consider when thinking about transferring out of a Defined Benefit Pension, which is why the government made it a legal requirement to take advice if your value is over £30,000.

For example, by remaining in a Defined Benefit Pension you could benefit from a guaranteed income for life, death benefits for your spouse and children, and inflation-linked income to keep pace with the cost of living. We’ll help you understand the benefits of transferring and of staying in your Defined Benefit Pension, so you can make the best decision for your personal circumstances and long-term goals.

Please note: we are only able to review Defined Benefit Pensions with a cash equivalent transfer value of at least £100,000.

We’re specialists in Defined Benefit Pension advice.

Our team of expert Pension Transfer Specialists are all qualified to provide advice on Defined Benefit or Defined Benefit Pension schemes.

We’ll begin with a free assessment, which will allow us to decide whether we can provide advice on a transfer. If we can provide advice and you choose to proceed, we’ll assess your Defined Benefit Pension against your circumstances to advise whether transferring to a more flexible Personal Pension is suitable for you.

As part of our recommendation, we consider:

• the value of your transfer
• the guarantees or benefits you may be giving up
• other investments you have
• your overall financial needs and goals

We’ll then present our recommendation to you in a document as well as by a phone or video call from one of our specialists, who can also answer any questions you have.

If you choose to transfer your pension, we’ll then take care of everything for you – including contacting your pension trustees and processing the transfer.