Pension Transfer Advice

Have confidence in your pension and peace-of-mind to enjoy life now.

Speak with one of our chartered financial advisers – we'll take the time to understand your circumstances before providing pension advice that's relevant to you.

Pension Transfer Advice you can trust.

You may be someone who has spent part or all of your working life employed by a large national employer who during that service provided you with a final salary occupational pension scheme. These schemes are highly sought after as they offer attractive and secure retirement benefits. 

However with the introduction in April 2015 of the new pension freedoms, members of occupational pension schemes in the private sector now have choices that were not previously available to them. The new pension freedoms give private sector final salary pension scheme members far greater flexibility and access than ever before. With these new retirement benefit freedoms comes responsibility to ensure that your largest asset is used wisely.

Occupational Pension Scheme Transfers are a complex area requiring specialised qualified advice. In order for a firm to be able to advise on pension transfers they must hold the appropriate Financial Conduct Authority (FCA) permissions to undertake such advice.

The pension transfer must be undertaken by an individual who is deemed to be a pension transfer specialist. In order to achieve this status the adviser must have passed the relevant examinations and therefore hold the appropriate qualifications. At Estate Capital we have two individuals who hold this status.

Our financial advisers have a wealth of experience of helping clients properly plan for retirement and will be happy to guide you through the transfer of pension benefits. We’ll take the time to understand your circumstances and help you choose arrangements that best suit your needs.

We can analyse your pension scheme benefits, interpret the information and explain it to you in plain and simple terms.

Our financial advisers can:

  • Provide a full and detailed report regarding deferred company pension scheme benefits.
  • Provide a comparison of the projected benefits at retirement.
  • Provide a comparison of benefits available on death both pre and post retirement.
  • Provide a calculation of the annual rate of growth or critical yield required to match the value of the benefits that would have been available in the existing scheme.
  • Explore and explain the advantages and disadvantages of any potential transfer.
  • Assess your attitude to risk in conjunction with the suitability of the transfer.
  • Research all of the market, as we are an independent firm, to find the provider best suited to your needs if this is appropriate.

Areas of Advice

  • Defined Benefit Schemes
  • Personal Pensions
  • Group Personal Pensions
  • SIPPs
  • SSAS
  • Section 32 Buyout's
  • Pension Drawdown Accounts

Frequently Asked Questions about Pension Transfers

Yes, but it would still need to be in your financial interest to do this.

Legislation will allow this to be done from age 55 but there are likely to be penal tax consequences.

A Defined Benefit Scheme contains valuable guarantees and it may not be in your interest to transfer. It will be an individual decision based on your goals, objectives and individual circumstances. Thorough research and assessment of your situation can help make an informed assessment of the suitability of a potential transfer.

You can pass your pension fund to your children providing the pension scheme you are a member of has adopted the new rules post 5th April 2015. If you are a member of a defined benefit scheme you cannot pass any fund to your children. There may be short term payments to dependent children only.

You will be able to take benefits before the scheme normal retirement age providing the scheme rules permit this. However there may be an early retirement penalty reducing the income if you retire early. These penalties are commonly 4% per annum.

This can only be done if the value is below £30,000. Any pension scheme with a transfer value over £30,000 will require the transfer to be handled by a suitably qualified independent financial adviser.

You do not have to take your tax free cash all at once providing your pension fund is in a flexible drawdown scheme.

Our Pension Transfer Specialists

Chris Davies

Chartered Financial Adviser

Phil Johnson

Independent Financial Adviser

Kate White


Need Pension Advice

If you would like to discuss any pension benefits that may require a specialist pension transfer adviser, we would be pleased to answer any questions you may have.

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