What are the pros and cons?
Take the time to learn more about the pros and cons of transferring out of the scheme
What sits best with you?
Some elements of transferring might be more appealing to one person over the others, it is a very personal decision and we urge you to take your time in exploring both sides before making any long term decisions.
Why stay?
Here are some potential reasons why you may NOT want to transfer:
✔ Certainty- of a fixed income each month
✔ Simplicity- no pension fund to manage in retirement
✔ Too important - you cannot risk this income falling or running out
Why leave?
Here are some potential reasons why you might consider a transfer:
✔ Flexibility- for your retirement income
✔ Family- may benefit more from your fund
✔ Potentially increase - your income and cash lump sum
The pension advisers at Informed Pensions and the Financial Conduct Authority believe that the starting position is that a pension transfer will be unsuitable. A transfer will only be recommended if it can be shown to provide an income in retirement that better meets your personal circumstances.
Guide to DB transfers
We have created a guide which is aimed at helping you understand all the key elements to DB transfers, please download a copy and take the time to read and understand all areas.
CONTENTS:
About Us
What is a Defined Benefit Scheme?
Transferring from a Defined Benefit Scheme?
Advantages & disadvantages of a Defined Benefit Scheme
Retirement options
Lifetime Allowance
Death benefits under an alternative pension
Pension Protection Fund
Why might I consider transferring my DB pension?
What is the advice process?
Risk considerations
