12 things you must think about before transferring your Final Salary pension

As a member of a Final Salary scheme, the income you receive in retirement is based on your salary before tax and the length of time with the employer.

Pension Freedoms have prompted many members of Final Salary Schemes to look at transferring their benefits to a Money Purchase arrangement, and therefore access the income flexibility they now offer. Transferring out can create greater financial flexibility, which could be a key benefit when it comes to lifestyle planning in retirement.

However, giving up a Final Salary pension is not a straightforward decision and certainly not one to be taken lightly.

The value of your pension could be the biggest asset you have, worth even more than your house. There is no going back, as transfers out of Final Salary schemes are not reversible.

It’s a big decision with a lot of factors to consider, so we’ve put together this guide to make you aware of some of the issues you need to think about. There are 12 things for you to consider, from the value of your fund to the state of your health.

You can either download the guide as a PDF or read it below. Should you have any questions, please don’t hesitate to contact us.

Download
bdhSterling
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.