If you are fortunate enough to be a member of a “gold plated” final salary or defined benefits pension scheme, the decision to transfer your guaranteed benefits should be taken with the utmost caution. It is a decision that could make or break your retirement plans and prove either a great lifestyle choice or a costly mistake.
Here at Quantum Wealth Planning, we believe that individuals considering a transfer of this nature must be given comprehensive impartial advice in a clear, fair and transparent manner. We believe that only those that receive such advice will have considered all the risks involved and will be able to make an informed decision confidently.
The key in providing such advice is to first establish the client’s objectives and retirement plans with the aim of indentifying their reasons for wanting to transfer. Only once we have a clear understanding of specific objectives and retirement plans can we assess whether it is in their interests to transfer. It may be that on assessment, there are alternative options which might prove more beneficial to the individual in meeting their objectives without having to give up the valuable guarantees built in to their final salary pension.
Here at Quantum Wealth Planning, we are Pension Transfer Specialists. Speak with one of our advisers today for a comprehensive review of your finances and expert advice on how to plan for your retirement.