Pension transfers
Changes in pension law, as well as economic circumstances, have done much to alter the way people view their retirement plans. Where once an occupational pension scheme - particularly of the defined benefit variety - was seen as the 'gold standard' this is no longer always the case, although you must consider very carefully any guarantees, protection and benefits you are giving up before making any changes to your existing arrangements.
It is important to be aware that many occupational pension schemes provide a high level of protection through the Pension Protection Fund. This means that transferring out may not be appropriate. Similarly, those schemes offering no form of guarantees may include 'exit' charges which have to be taken into account before any decisions are made.
We provide a specialist service that will review your existing pension arrangements and advise you whether you would be better advised to leave them in place (possibly making additional contributions or moving your contributions to a different provider). Equally we can advise on whether or not it is a good idea to move or 'switch' any paid up pensions from one provider to another, but again we would consider very carefully any guarantees, protections and benefits which you would be giving up before advising you to make any changes.
For more information about how Dawson Whyte (Life & Pensions) can help you, please click here.
Financial planning
Building a better future
Buying your home
Protecting your family
Protecting your income
Planning for retirement
Pension transfers
Options at retirement
Medical care for the family
Later in life
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