Should I transfer my final salary pension?

It is important to remember that there are many factors to consider before cashing in or transferring your pension, and as such obtaining suitable advice from a suitably qualified pension transfer specialist is essential. Final salary pension transfers are irreversible and so before proceeding with a transfer you need to carefully consider the advantages and disadvantages.

The following questions consider issues that are important in determining if a transfer of your final salary pension might be suitable. By giving genuine answers to each question, you will be given some initial guidance on whether a transfer might be appropriate.

1. I’m happy to risk the value of my pension savings on the stock market.
2. If my income from my pension reduced for any reason, it would seriously impact my standard of living.
3. I want my pension to be as simple, secure and protected as possible.
4. My Final Salary pension is going to be a very small part of my overall income when I retire.
5. I want the option to vary the income I take from my pension savings in retirement.
6. I want to use this pension as an inheritance for future generations rather than income for me in retirement.
7. I have financial dependants.
8. A lump sum payable from my pension on my death is important.
9. I have reason to believe I have a shortened life expectancy.
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