Final Salary Pension Transfer Reviews
Brighter Financial Services Limited have been granted authority by the FCA to provide transfer advice on final salary pension schemes. This status can be identified at the FCA Website.
A Final Salary Pension scheme is one where the amount you have been offered in retirement is guaranteed. The benefits that these schemes offer often outweigh the benefits of transferring out of such schemes.
Some pension transfer values can be very high but we do not merely consider this aspect when considering a transfer as there are a number of very valuable benefits that a scheme can offer that must not be over-looked in the review.
How do you decide to have a final salary pension transfer review?
Quite simply the decision is not that easy. We advise our clients to consider the facts before proceeding:
The FCA believe that the current model of adviser charging has resulted in an inflated number of transfers taking place, as the adviser is only paid once a transfer is completed. This, they believe, has created a conflict of interest as advisers are more likely to advise clients to transfer rather than not to transfer as a result.
All our clients receive the same service from us, regardless of service type. Pension transfer reviews, as with all our interactions with clients, are conducted with integrity and with your needs and objectives at the centre of all our decision making processes. We have therefore advised a similar number of clients not to transfer their pension, as clients who we have advised to transfer their pension.