Free Final Salary Pension Advice
Scottish Pensions’ advisers provide free consultations to anyone reviewing or considering transferring their Final Salary Pension (also known as a Defined Benefit Scheme).
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.
What are the benefits of transferring out of my Final Salary Scheme?
- Transfer values are exceptionally high at present
- Transferring means you have complete flexibility on when and how much you draw-down
- You can transfer your Final Salary Pension at any age
- Your fund can be significant family asset, which can be handed down generations
- Transferring a Final Salary Pension takes away the life expectancy gamble associated with Final Salary Pensions
- Transferring can be more tax efficient.
What size is my transfer likely to be?
At the moment transfer values can be hundreds of thousands pounds and on some occasions millions of pounds. For example a 50 year old employee of a bank who has a Final Salary pension with a projected pension at age 65 of £4,500 – the transfer value could be in excess of £190,000. Equally another 50 year old bank employee with a projected pension at age 65 of £25,000 could be looking at a transfer value of around £1,000,000 today.
Your transfer value is unique to you and varies from scheme to scheme. Our independent financial advisers can assist you in getting a true transfer value.
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 you through a rigorous process which will clearly highlight the risks and benefits of transferring — and advise if transferring is right for you.
Free Pension Consultations:
If you are considering transferring your Final Salary Pension then please call our head office in Glasgow on 0141 465 1909 or complete our Enquiry Form for a free consultation in the comfort of your own home or at one of offices.
Scottish Pensions have branches in Glasgow, Edinburgh, Dundee, Aberdeen, Inverness, Perth, Oban and Stirling.
Our lines are open Monday to Friday: 8.30am — 7pm.