Transfer Value Analysis
Most pensions are investment linked nowadays but there are still many with valuable guaranteed benefits.
You might have received an annual statement from an old stakeholder scheme or an auto-enrolment arrangement where you had changed jobs. You have looked at the transfer value and the projections and wonder whether this is the best place for your retirement funds. In the words of the Clash’s only number one, should you stay, or should you go?
We will guide you through the costs that apply to your pension (for instance, older style contracts might have initial or accumulation units), the fund options and any features that enhance the pension. It could well be that you can achieve what you want to by using the current contract but, if moving to another plan is suitable, we would talk through the options, depending on the level of risk you are prepared to accept.
If you have received a Cash Equivalent Transfer Value (CETV) quote where your pension is final salary based (also known as defined benefit), your first instinct should always be to keep it where it is. Defined benefit schemes are considered the gold standard in pensions. They offer a guaranteed income, often linked to a form of inflation, for the rest of your life. All the risks and costs are met by the employer and there are many forms of protection for you as an employee.