In this guide we will explain exactly what a final salary transfer is, what has changed recently to make them a sensible option for an increasing number of people and why it’s a great time to look at this option.
The new pension freedom rules coming in to force in April 2015 create a much bigger divide between the shapes of benefits available from a DB scheme and those which can be derived from an invested Personal Pension account. These changes make the transfer option a suitable and attractive transaction for a wider population of deferred members.
Taking a final salary pension transfer is a complex irreversible transaction and as with most complex transactions it makes sense to seek help from a specialist. Tideway’s advisers have handled over 500 final salary transfer enquiries from more than 70 different schemes in 2015 so far. They understand the pros and cons of taking the transfer route and how to optimise the transfer flexibility without taking too much risk with your transfer funds.