FINAL SALARY
PENSION TRANSFERS

Expert and trusted advice on your final salary pension transfer options

We’re FINAL SALARY PENSION TRANSFER SPECIALISTS

If you have a ‘final salary’ pension (also known as a ‘defined benefit’ or ‘occupational’ pension) and are thinking of transferring out of your scheme, this can be one of the most important financial decisions of your life.

Every scheme is different and each person’s circumstances are unique, so it is vital – and required by law if your fund is more
than £30,000 – to seek expert advice from a pension transfer specialist you can trust.

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People We’ve Helped WITH THEIR
FINAL SALARY PENSION TRANSFERS

How we can help with YOUR
FINAL SALARY PENSION TRANSFER

Specialist advice on your options

We offer a qualified and experienced team who work with a trusted system to analyse all of the issues involved, and who will present them to you in a clear and easily understandable way so that you can make the best decision for you.

Expertise to manage your funds

The suitability, or not, of transferring a final salary pension is just the beginning. If you decide to move out of your scheme, then you will assume responsibility for the investment of your fund and the pension income it needs to produce. You will need specialist advice on how to invest the money, and gradually withdraw it in your retirement. We know the issues that will arise and have the expertise to help you manage these responsibilities.

OUR EXPERT’S VIEW

Whether or not to transfer out of a final salary pension scheme is one of the biggest financial decisions of your life. We take a closer look at the four key questions you should be asking.

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Jessica McGowan, Pension Transfer Specialist

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THE PENSION TRANSFER GOLD STANDARD

We adhere to the Pension Transfer Gold Standard. This is a voluntary code of good practice for safeguarded and defined benefit pension transfer advice, overseen by the Personal Finance Society and based around a set of 9 core principles that participating firms adhere to.

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SPECIALIST ADVICE IN COVENTRY
& WEST MIDLANDS

Several large organisations operate in the Coventry region, with many of their employees in occupational pension schemes. We provide specialist advice on these schemes to our clients in and around the West Midlands, including employees of Jaguar Land Rover, Federal Mogul, the NEC, Hewlett Packard, Aston Martin and National Grid. Here’s what one of them – David Browne (National Grid) – says about our service:

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Transferring out of a Final Salary pension scheme is unlikely to be in the best interests of most people.

Let’s talk

Do you want specialist advice on your final salary pension transfer options?

Book your free initial consultation with one of our pension transfer specialists.





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    PROS AND CONS OF A
    FINAL SALARY PENSION TRANSFER

    Pros

    • Access to your pension at age 55.
    • 25% of the invested amount available as tax free cash at age 55.
    • 100% of the fund value for your surviving spouse as either income or capital.
    • The remaining pension fund can be left to your children.
    • You can decide when to retire, providing your fund is sufficient.
    • You can have a phased retirement.
    • You decide how much income you take and how your funds are invested.
    • You can adapt your retirement plans if you suffer ill health.
    • You don’t have to worry about the viability of your employer’s scheme.

    Cons

    • The decision to transfer out is irreversible.
    • You will give up the certainty of a known and guaranteed income, which cannot be replicated in the alternative.
    • You will take on inflation risk.
    • You will take on investment risk.
    • Your funds could run out if the scheme loses value due to low investment returns or low interest rates.
    • You will be responsible for the payment of product, fund and advice charges (from within the product if that is your preference) which would previously have been paid for by the employer and/or final salary scheme.

    In moving out of a final salary pension scheme you are leaving behind a known and guaranteed income for life which cannot be replicated in the alternative, which is known as a draw down pension. In some cases however, there is an over-riding need for flexibility in retirement, and the trade-off for this is giving up the known and guaranteed income which would escalate in line with inflation.

    What our clients say

    We are proud of the feedback we’ve had from more than 200 client surveys and our overall satisfaction score is 93%. What our clients think of our service is what matters most to us.

    i-would-thoroughly-recommend-riverfall-financial-to-anyone-seeking-financial-advice-and-particularly-in-relation-to-a-potential-defined-benefit-pension-transfer
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    Read Our Magazine
    ‘The Bridge’

    Communicating with our clients is important to us, so we create our very own in-house magazine, into which we pour the expertise of the Riverfall Financial team. It’s free, it’s exclusive and it’s full of insight on pensions and retirement planning.

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