Choosing the right pension for your goals

Pensions fall into two categories: defined benefit and defined contribution. 

A defined benefit pension gives a guaranteed, increasing income for life based on your salary and how long you worked for your employer.

The responsibility to pay all of your benefits rests with your employer. Even if they become insolvent and the scheme collapses, the Pension Protection Fund can step in to protect most of those benefits.

However, there are limits to how much you can withdraw and when, as well as how much your spouse and dependents will receive when you die.

A defined contribution pension scheme does not have the same protections. What you will receive depends on the size and performance of your investments.

You will, however, get more control over how your pension is invested, when you draw your benefits, and even who receives the remaining fund when you die.

It’s a decision between guarantees and flexibility.

Everyone is different, in many cases it’s a decision between guarantees and flexibility.

To help you make the decision, we start with an informational video for you to watch at home. We will then take time to get to know you and what your personal view of retirement looks like. Using the real value of your transfer fund, your income, investments and savings we will prepare a personal cashflow to help you understand your future.

A pension transfer is a big decision and it is important that you are well informed and professionally advised. Look for The Pension Transfer Gold Standard, of which we are an approved firm, to ensure you’re getting the highest quality advice.

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