Defined Benefit Pension Schemes
In this new era of Pension freedoms members of Defined Benefit Pension Schemes have more choices available to them than was previously the case. Retaining the Defined Benefit or Final Salary Pension is still often the best course of action to take as it offers a guaranteed pension for life normally with escalation and a reduced pension for the spouse. However, there is often merit in looking at alternative ways to take the pension depending on a number a circumstances including the members health, marital status, tax status and other income in retirement to name but a few. Taking benefits in a different format can be beneficial. This is a specialist area of advice requiring a specialist pensions license to operate in this area. Ashwood Law Wealth Management has two advisers that are qualified in this specialist area.
TRANSFERRING OUT OF A FINAL SALARY/DEFINED BENEFIT SCHEME IS UNLIKELY TO BE IN THE BEST INTERESTS OF MOST PEOPLE.
THE VALUE OF PENSIONS CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.
In this new era of Pension freedoms members of Defined Benefit Pension Schemes have more choices available to them than was previously the case. Retaining the Defined Benefit or Final Salary Pension is still often the best course of action to take as it offers a guaranteed pension for life normally with escalation and a reduced pension for the spouse. However, there is often merit in looking at alternative ways to take the pension depending on a number a circumstances including the members health, marital status, tax status and other income in retirement to name but a few. Taking benefits in a different format can be beneficial. This is a specialist area of advice requiring a specialist pensions license to operate in this area. Ashwood Law Wealth Management has two advisers that are qualified in this specialist area.
TRANSFERRING OUT OF A FINAL SALARY/DEFINED BENEFIT SCHEME IS UNLIKELY TO BE IN THE BEST INTERESTS OF MOST PEOPLE.
THE VALUE OF PENSIONS CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.
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