Final Salary Pension Transfer Edinburgh
Scottish Pensions are one of the Edinburgh’s, leading team of Independent Financial Advisers specialising in the transfer of Final Salary Pensions. During 2017 alone our team in Edinburgh received in excess of 300 Final Salary Pension enquiries.
We understand that you’ll want to know how much we charge, that’s why we provide competitive ‘Fixed Fee’ quotations.
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Our panel are fully regulated and hold Diplomas in Financial Planning and an Advanced Diploma in Pension Planning.
Initial consultations with one of our Final Salary Pension transfer specialists in Edinburgh is free of charge. It can be carried out in the comfort of your own home, in our offices or perhaps over the phone if that’s more convenient for you. During your consultation, we will endeavour to gather key information about you, your objectives, how generous your transfer fund is and explain what your options and choices are.
5 good reasons to considers your transfer options…
- Unlike a Final Salary Pension a private pension has the capability to become a significant financial asset. Transferring out of a Final Salary Pension gives you greater control over your pension. It can also be passed down to the next generation, spouse or dependents in the event of your death. This is something that is not available with a Final Salary Pension.
- Current average transfer values has never been more attractive which removes a significant percentage of the risk associated with Final Salary Pension transfers.
- You’ll have full control over your fund in terms of how and when you access it and what funds you choose to invested in.
- You can start receiving your pension from the age of 55. Of course, if you intend to work longer you can defer taking your pension and access it at a later date, allowing it to grow further.
- Transferring to a privately managed pension can also have tax advantages too. In many cases, our advisers have been able to structure client’ finances in a way that lessens future tax obligations.
How we work with you…
Detailed, professional advice
Following a free consultation in Edinburgh your adviser will compile a detailed report that will cover off all factors relating to a potential transfer. We’ll then arrange a follow-up meeting so that our report can be discussed in-depth and in-person answering any queries you may have.
Completing the transfer
Assuming you wish to proceed with the transfer, your adviser will arrange with you a suitable pension to accept the funds, unless you have one already.
Our service doesn’t end with the transfer
We understand that you may require our service beyond the initial transfer. At your discretion our Edinburgh team can arrange for regular, ongoing advice ensuring your pension performs to its maximum potential for many years to come.
How much can you expect from a pension transfer?
The value of a transfer is unique to you and depends on your age as well as the specific benefits that are offered by individual pension schemes. To give you an idea of what your transfer value may be, here are a couple of illustrations:
- An individual aged 55 who is entitled to a pension of £30,000 per year from the age of 65 could potentially receive a transfer value of around £600,000.
- An individual aged 55 who is entitled to a pension of £30,000 per year from the age of 60 could potentially receive a transfer valued around £750,000.
Understanding the risks
Anyone considering transferring out of a Final Salary Scheme should appreciate that once a transfer has taken place the decision is irrevocable and that the valuable benefits from the scheme are lost. Your adviser will take your through a rigorous process which will clearly highlight the risks and benefits of transferring — and advise if transferring is right for you.
If you would like to arrange a Free Consultation with a member of our Edinburgh team please call our head office on 0141 465 1909. You can also complete one of our online Enquiry Forms and a member of our our team will call you back at time that best suits you.
Our lines are open Monday to Friday 9am — 6pm.