Expert guide to UK defined benefit pension transfers

With transfer values high, and retirees demanding more flexibility and control over their wealth, pension transfers are becoming increasingly popular.


What is a defined benefit scheme?

A final salary or defined benefit pension is one which offers the member a guaranteed income for life, often with inflation protection. A scheme lasts for the lifetime of the member, offering spousal income benefits upon death.

If you build up ‘defined benefits’ from employment, hold a ‘final salary’ or ‘career average’ scheme, it is important you understand your options. 

Understanding pension transfers

Pension transfers offer increased freedom and control. Would you prefer control over your pension wealth and wider retirement options? We’ve written various articles about defined benefit pensions and pension transfers in our blog.

Our guide goes even further, with 8 pages of technical information about DB pensions and how they work. We explain the key differences between UK pension types and the risks of leaving behind a secure pension income. A pension transfer isn’t for everyone. Those with little other wealth and reliant on their UK defined benefit income should not take any risks with their long-term financial security. However, if you live abroad, require wider death benefits or want to control your own pension income structure, a transfer may be appropriate.

More pension transfer resources

In addition to our free guide, we’ve developed a pension transfer quiz. This assesses whether you have the right personality for a pension transfer, and should be considered alongside the technical statistical analysis which can be offered by a UK pension transfer specialist.

A UK FCA regulated pension transfer specialist will be needed if you want to explore the pension transfer option. We operate a panel of professional regulated specialists with experience of working with non-UK residents.

Our FREE 8-page guide will help you understand what your pensions are worth, and whether a pension transfer could be right for you.