guide-to-transfers

A Guide To Transfers: What You Need To Know

This guide will give you balanced view on when it may be in your best interest to give up the guarantees of your final salary defined benefit pension scheme.  Pop your email address in the box below to get a link to it.


What Is A Transfer Value (CETV)?

The transfer value, or Cash Equivalent Transfer Value (CETV), is the amount of money your final salary or defined benefit pension scheme would pay to another pension arrangement, should you decide to give up the benefits you have already secured within the pension scheme.


What Is A Final Salary Pension?

A final salary pension a type of defined benefit scheme, provided by employers.  Your retirement income, which may increase each year, is a promised payment, based on your earnings and your length of membership in the scheme.  You may be entitled to tax free cash and other benefits for your dependants.

What Is A Defined Contribution Pension?

A defined contribution pension is a scheme in which you and your employer invest your contributions, and transfers from final salary and other pensions.  The proceeds are used to provide your benefits, such as tax free cash and a retirement income.  Their value depends on the amount paid in, the investment return achieved, less any fees and charges.

Watch The Video On Defined Contribution Pensions


A Few Of The Many People Who've Reviewed Their Final Salary Pensions

final salary transfer
"Really Good Service"
Jo Seawright
Business Coach

I was introduced to the pension transfer specialist by SIPPclub.  At first I was a little worried that the adviser’s firm was a scam as I had only come across them online initially.  But I got on the phone to Steve, and we talked through the technicalities of what I wanted to do with my pension, and Steve came across as both professional and helpful.  He and his team got the entire transfer complete with relatively little pain other than having to wait on the 'other end' completing their paper work.  I was kept posted all the way through, they told me what any delays were and when I could help by putting a little pressure on the other party involved.  All in all a really good service was extended from start to finish from every member of the team.  If you are looking to move your pension to a self-managed SIPP I would definitely recommend you contact SIPPclub for an introduction to Steve.
final-salary-defined-benefit
"Problem Solved"
Richard Powney
Project Manager

I reached out to SIPPclub as a last resort after two different companies informed me that they were unable to effect a DB transfer for a non-UK resident – in both cases rather late in the process.  Brian Bennis put me in touch with Stephen Cave and Stephen persuaded me that Better Retirement could succeed where others had failed.  I confess I was reassured with the “no transfer, no fee” approach and it helped that BR’s fee was lower than many others in the industry.  I am delighted to be able to write here that Stephen was correct and that I am completely satisfied with all aspects of the transaction.  I have no hesitation in recommending Better Retirement for DB transfer, particularly for ex-pats – and am grateful to Brian for putting me in touch with Stephen.
final salary transfer
"Impressed"
Martin Cragg

Just a quick email to say how impressed I have been with the efficiency of everyone involved at SIPPclub and BRG Ltd with regards to my pension transfer.
final salary transfer
"Correct Decision"
Allan Holt
Advised Not To Transfer

Good morning Gary (pension transfer specialist)
I would like to thank you very much for your considerable time and impartial comments yesterday which helped me to come to my decision of taking the Jaguar DB pension rather than transferring out of the pension scheme.  It was, as you agreed, a close and difficult decision but finally 12+ months of investigations and research (and worry) on my part can now be concluded.  As I mentioned to you, I had already spoken with a number of IFAs prior to our meeting over the past 12 months who, I'm pleased to say, were all helpful, but I would like you to know that it was your knowledge of the Jaguar/Landrover process and of dealing with the transferred funds, versus retaining the DB pension, in view of my circumstances, that enabled me to have the confidence I was making the correct decision.

Dear Brian (SIPPclub)
Am I glad that I contacted SIPPclub last year!!  As you will see from the above, Gary was able to help me come to a decision of which I am already feeling the benefit.  There's something within me that yearned to take the transfer of my funds, but all things considered, I can see that it was not the best option in the end.  I shall remember SIPPclub and (along with Gary's details) make mention of it when discussing pensions, or indeed any investments with my colleagues from JLR.  Thank you for your part in assisting me to satisfactory outcome.

final salary transfer
"Excellent Service, Attractive Fee"
Dr Steven Fawkes

Having looked at transferring my final salary pension, I was close to giving up when I discovered SIPPclub.  The service provided by Brian was excellent and the service provider who took care of the transaction carried out the work efficiently and on an accelerated timescale to meet a deadline.  The fee they charged was considerably less than quotes I had originally received.
final-salary
"Nothing Short Of Brilliant"
Shaun Palfrey

For over a year now, I have wanted to transfer, or at least look at transferring a defined benefit final salary pension from an old employer into my SIPP, and after searching high and low for a firm that would give the advice I was looking for without it costing me a fortune, I found it was almost impossible.  The biggest issue being that many wanted the full amount of their fees paid regardless or whether the advice they gave was positive or negative regarding the recommendation, a potentially very expensive game indeed.  Almost as a last resort, I contacted SIPPclub who immediately put me in touch with a firm that were nothing short of brilliant. The whole process took a matter of a few weeks and was smooth and seamless throughout.  Now I may have been fortunate as the timescale isn't only in the hands of the IFA but in the ceding administrators.  However, in my case, to say the IFA was proactive on all counts is an understatement.  If you are thinking of transferring a defined benefit final salary scheme, then I can only recommend that you contact SIPPclub in the first instance.  It's as simple as that.
final-salary-sipp-ssas
"Professionalism, Experience and Integrity"
Matt Land

Having received a final salary pension transfer offer from my former employer, I sought financial advice and was initially put off from exploring my options with local advisors due to their high fees and "one size fits all" mentality.  I found SIPPclub online.  SIPPclub was very helpful in putting me in touch with a pension transfer specialist firm who carefully analysed my specific case.  They explained my options clearly and for a very reasonable pre-agreed price.  Based on their detailed analysis, I decided to go ahead with the transfer and they made what could have been a frustrating and stressful experience relatively quick and easy.  I recently read newspaper articles commenting on how difficult it is to transfer out of a final salary scheme despite the new pension freedom legislation and would agree with this as I initially found the process extremely daunting.  I would recommend SIPPclub to anybody considering a pension transfer as with their professionalism, experience and integrity, the advisors appointed put my mind at ease and delivered an outcome I am very happy with.
final-salary
"The Service Provided Was Excellent"
Jon A

I used SIPPclub to assist me with the transfer of my defined benefits pension from Lloyds to an AJ Bell SIPP.  Having been introduced by SIPPclub to a pension transfer specialist firm, throughout the process, the service provided was excellent.  This was both in terms of high level advice and help in the unavoidable paper work and liaison that such a transfer produces.  The whole process took less than 4 weeks to complete and was done completely on line in combination with two short phone discussions.  The fees I was charged were excellent value for money and very competitive in comparison with similar providers.  I would whole heartedly recommend SIPPclub to anybody thinking about transferring their final salary pension in this way.
final-salary-sipp-ssas
"Miles Ahead Of Everyone Else"
Frank Martin

Your organisation is the only one capable of doing things correctly first time.  My existing SIPP provider has just confirmed that their systems are inadequate with both my transfers still awaiting their paperwork.  I’m provided with a different excuse from my former employer every time I contact them.  What an industry – you are miles ahead of everyone else!  Very many thanks.

Things To Consider If You're Thinking Of Taking Advice On The Potential Transfer Of Your Final Salary Defined Benefit Pension

1. Do you have a spouse or other qualifying beneficiary to inherit part of your defined benefit pension?

A defined benefit pension scheme provides you with valuable, often escalating benefits for life, and on your passing, at a reduced level to your beneficiaries.  Any decision to transfer out should take into account the views of your spouse or partner as they will lose the guaranteed, no risk income for life.  It'll be replaced by an investment portfolio they can inherit in accordance with your wishes, but they will need to manage it and take on the associated risks. 

If you have no spouse, partner or other qualifying beneficiary, the scheme will still include these potential benefits when calculating the transfer value.

2. Do you have any medical conditions that may significantly shorten your life expectancy?

If you don't expect to live long, a guaranteed income for life from your final salary defined benefit pension will be of less value to you, although it might be important to your spouse or partner if you have one.  If you transfer, any money left in your pot can be passed on to loved ones.

As a member of the defined benefit scheme, you'll receive a guaranteed income for life.  On your passing, this will continue at a pre-determined, reduced level to qualifying beneficiaries.  If you have no eligible beneficiaries, the guaranteed income will cease on your death.  If you are in serious ill-health and have intended beneficiaries who do not qualify under the Scheme rules, this may be an important consideration.

3. Do you have more than enough secure regular income to cover your regular outgoings in retirement?

When you're considering the value of the guaranteed income from your defined benefit pension scheme, all your other sources of guaranteed income must also be considered.  This will establish the importance of the defined benefit pension income as a proportion of your total available guaranteed income.

4. Are you comfortable investing in the stock market?

Your defined benefit pension scheme provides you with a risk-free guaranteed income for life.  If you were to transfer this to a flexible arrangement, you would take on all the investment risk as well as the costs associated with managing pension funds.  The invested funds would also be subject to market fluctuations and may lead to a reduced income in retirement.

5. Are you likely to want to seek a guaranteed income for life later on by buying an annuity?

If you give up the guaranteed income from a final salary defined benefit pension, there's a high chance it will leave you out of pocket if you later use your pension fund to buy another guaranteed income product in the form of an annuity.

6. Have you considered the pattern of income you will need in retirement?

Defined benefit pension scheme benefits are fixed, providing a guaranteed escalating income for life and no option to vary this.  A flexible arrangement would allow you to vary your income according to your needs, but it wouldn't be guaranteed.

7. What is the primary purpose of a defined benefit pension?

The primary aim of a defined benefit pension scheme is to provide you with a guaranteed income in your retirement.  It also provides a guaranteed income to a qualifying beneficiary on your death.  A flexible pension, whilst not guaranteeing your retirement income for life, does allow any funds remaining on your death to be passed on to nominated beneficiaries.


The Surprising Value Of A Final Salary Pension

"If you were asked to list your most valuable assets in descending order, how far down would the small, deferred, annual pension from your previous employer be?"

The reality is a final salary pension is likely to be your second most valuable asset and for a significant number, it will be more valuable than your family home, sometimes by a considerable margin.

New pension freedom rules, which give you far greater flexibility over what you can do with your pension pot came into force on 6 April 2015 and this has led to a greater interest in what could be lying beneath the annual benefit statement that has typically been received and filed with apathy.

The answer will be revealed to you upon request of a Cash Equivalent Transfer Value (CETV) from your pension trustees.

The CETV is the cash sum the trustees are willing to transfer to a personal arrangement in your name in exchange for you giving up your pension rights with them.

To find out what your CETV might be worth, use our final salary transfer value calculator.

[SalaryTransferVal]


How Much Could Your Final Salary Transfer Be Worth?

What we have been seeing is that all transfer values are not created equally.  Generally speaking, the bigger your employer, the more generous your transfer value is likely to be.  Large financial companies, banks, insurance companies and FTSE 100 members tend to offer the best transfer values.

One 54-year-old former employee of a large investment bank, who had a deferred pension of £4,500 per annum, was surprised to learn his CETV was in excess of £190,000.

A few years ago it would not have been as much, so why are we seeing such sizeable offers at the moment?  The answer is down to the assumptions the trustees are using compared to what they have been historically.  The three variables contributing to a CETV are inflation, annuity rates and investment returns.

In order to calculate a CETV, the trustees revalue the pension from date of leaving, to date of retirement, using inflation assumptions.  They then capitalise the income using interest rates assumptions, and finally discount this back to the present day using investment return assumptions.

Indexation assumptions are restricted due to maximums and minimums legally bestowed on trustees.  It means that lower assumed investment returns and annuity rates are driving these sizeable CETV values.  An increase in these assumptions results in falling transfer values.

XPS's Transfer Value Index fell to an unprecedented low of £181,000 at the end of September 2022. This represented a drop of £16,000 over the month, a fall of 8%, as a result of further increases on the yields of long-dated gilts.  Transfer values have now fallen by almost a third this year with their largest monthly fall in September.  The index fell as low as £150,000 on 27 September, following the announcement of the mini-budget and subsequent market reaction, in which gilt yields briefly reached 5% per annum.

final salary defined benefit
.

Should You Consider A Final Salary Transfer?

There are many reasons to consider transferring a final salary pension.  However, the starting point as pointed out by the FCA, is the default position should be to remain in the scheme.

The reality, however, is that for certain people there are many good reasons why it will make sense to transfer.  Even the Government, in its response to the Freedom And Choice In Pensions Consultation, noted:

... it is likely that some individuals will request transfers out of their defined benefit pensions, and for some individuals, this may be in their best interests. For example:

  • if they are heavily in debt
  • if they have a short life expectancy
  • if they are unmarried and do not have dependants
  • if they would prefer wealth to an income stream

You can read the full final salary consultation here.

In addition to the above:

  • if you want to pass on the value of your pension to your spouse or children
  • if you would like the opportunity for a larger tax free lump sum at retirement
  • if you have other sources of capital and income
  • if you are concerned over the stability of your ex-employer
  • if you want personal investment control and flexibility
  • if your spouse or partner has equally good pension rights

Pension members are thankfully protected.  The DWP has ensured no pension provider will accept a transfer from a final salary scheme where the member has not received advice from a suitably qualified Pension Transfer Specialist, and it is certainly not suitable for most.

If your transfer value is greater than £30,000, you're required to seek independent financial advice before you transfer your final salary pension scheme as any action taken is usually irrevocable and there could be valuable benefits that would be lost on transfer.

What You Should Do About Your Final Salary Pension

If you haven't obtained a final salary transfer figure within the last six months, given the fact that final salary transfer values are currently running so high, it may be prudent to ask your trustees now, even if you are likely to fall into the "unsuitable category". 

There is no requirement to do anything once you receive your final salary transfer figure, and usually trustees will provide one CETV per annum at no cost to you.  And the benefit of doing this...

You'll know for sure where to place your pension on your asset list!


FCA SIPPclub sipp ssas

FCA Video On Pension Transfer Advice

Click the button below to watch the Financial Conduct Authority's video which aims to help you understand the level of financial advice you should receive if you're considering transferring out of a final salary defined benefit pension, or if you've already done so.

FCA Video On Pension Transfer Advice

final salary defined benefit

Coronavirus Advice From The Pensions Advisory Service

The Pensions Regulator, the Financial Conduct Authority and the Money and Pensions Service, recommend you don’t rush into transferring your final salary pension and you look at the free, impartial guidance from The Pensions Advisory Service.

Visit The Pensions Advisory Service


Final Salary Defined Benefit Transfer Service

final-salary-defined-benefit
SIPPclub has created a panel of firms that specialise in final salary defined benefit transfers.  They're authorised and regulated by the FCA and they have all the necessary permission to advise on pension transfers.  They follow the recommendations detailed in the FCA video above, and adhere to the Personal Finance Society's Pension Transfer Gold Standard.


The Service Works In Four Stages

The purpose of dividing the service into four stages is to ensure you pay the minimum fee possible.

CETVs under £100,000 won't be reviewed.  CETVs under £200,000 will only be considered if you have exceptional circumstances.  You will need to be at least age 55 unless you have exceptional circumstances.

A Word About Ongoing Advice

If you transfer your final salary pension to a personal pension, the regulator would expect your transfer value to be invested in regulated assets, typically stockmarket investments and deposit accounts.  It would also expect you to receive ongoing advice from a regulated financial adviser, unless you’re either a regulated adviser or a professional investor.

The cost of ongoing advice will be factored into your review, even if you don’t require it, is because you may not always be able to manage your pension: for example, if you suffer ill health or lose your mental capacity.  And if you should die, the people to whom your pension is left may require an adviser to help them manage the money.

Including an ongoing adviser charge in your review ensures a fair comparison with your final salary pension, where the cost of any advice falls upon your former employer.  Typically, the annual cost of ongoing advice is 0.75% of your fund value.  You'll be expected to commit to ongoing advice for at least a year.


Stage One: Initial Check

Stage One is an overview of your situation to assess whether you meet the criteria for a final salary defined benefit pension review.

  • You'll complete the form below.
  • We'll review your answers to check you meet the criteria for a review of your final salary pension.  This is neither advice from SIPPclub, nor is it a recommendation that you should or should not transfer your final salary pension.
  • If you meet the criteria, we'll introduce you to the most appropriate firm on our panel and provide you with all their details.  They are all authorised and regulated by the Financial Conduct Authority to provide pension and investment advice, and they work alongside pension transfer specialists who have permission to provide pension transfer advice.
  • Once the firm has been in touch to introduce itself, you can decide whether or not to proceed with Stage Two.

You will not be charged for Stage One.


Stage Two: Comparing Final Salary And Personal Pensions

The purpose of Stage Two is to ensure you get to grips with the advantages and disadvantages of retaining your defined benefit final salary pension compared with moving the CETV to a personal pension.

You'll watch a series of short educational videos from Money Alive, like the one above.  The total running time is just over an hour. They will give you a better understanding of the pros and cons of considering a transfer from your final salary scheme.

Once you've watched the videos, you have three options:

  • If want to leave your pension where it is, that's the end of the process.
  • If you require further information, you can speak with an adviser.
  • If you'd like to consider a review of your final salary pension, you’ll proceed to Stage Three.

The cost of Stage Two is £50 (inclusive of VAT).


Stage Three: Abridged Advice

Stage Three is a low cost option to access advice about your final salary scheme.  It covers your needs and objectives and helps you better understand your deferred benefits, without committing immediately to the higher cost of full advice.

  • You'll complete a number of online forms to provide your full personal and financial details including all your pensions and investments, your health, tax and family positions, your attitude to risk, your reasons for wanting to transfer your pension, and more.  This will be carried out by an Independent Financial Adviser (IFA).  Once complete, the information will be passed to a Pension Transfer Specialist (Specialist).
  • The Specialist will gather information from your scheme, including a current CETV.  It'll be analysed in conjunction with the information you've completed with the IFA.
  • You'll have a video conference call with the Specialist who'll discuss their findings with you.
  • The Specialist will either conclude the scheme benefits can meet your needs and you should leave the pension where it is.  Or if it's unclear whether the scheme benefits can meet your needs, you may progress to Full Advice in Stage Four.
  • You'll be sent a report confirming the conclusion reached during your meeting.

Stage Three is charged on the following scale:

  • One scheme - £800 plus VAT
  • Subsequent schemes - £300 plus VAT
  • IFA - £300 (instead of this fee, you can use your own IFA for the work required in the first bullet point above)

Stage Four: Full Advice

Full Advice builds on the information gathered and analysed in Stage Three, including an analysis of alternatives that may better meet your needs and objectives.  YOU MUST HAVE RECEIVED FULL ADVICE IN ORDER TO TRANSFER YOUR FINAL SALARY DEFINED BENEFIT PENSION.

  • The Specialist will analyse the information you’ve already completed in further detail, comparing it to the benefits of a workplace scheme and other pension plans.
  • They'll produce a Pension Transfer Analysis Report, Cashflow Modelling and a Transfer Value Comparator as required by the regulator.
  • You'll have another meeting with the Specialist, during which they'll go through all the paperwork with you, to ensure you understand every aspect of it.  The Specialist will conclude whether or not you should transfer your pension.
  • Following the meeting, you'll receive a recommendation report confirming the advice.  If the advice is not to proceed, the file will be closed.  You'll be entitled to a letter from the Specialist to confirm you've received full advice.
  • If the Specialist's recommendation is to transfer your pension, you'll complete the paperwork for the recommended pension scheme during a short meeting.
  • After an agreed cooling-off period, the paperwork will be submitted and the Specialist will liaise with both the final salary scheme and the new provider to facilitate the transfer.
  • Once the transfer has completed, and any lump sum paid out, the remaining funds will be invested in accordance with the agreed strategy.
  • Ongoing advice will be provided by the IFA in accordance with the fee agreed for that service.

Under Financial Conduct Authority guidelines, Stage Four is chargeable whether or not the Specialist is willing to recommend a transfer.  It’s charged on the following scale for each final salary pension scheme:

  • £4,000 plus 1% of the CETV inclusive of VAT - maximum charge £25,000
  • The Abridged Advice fee charged in Stage Three will be offset/refunded against this charge.

New Government Rules On Transfers From November 2021

A transfer from a final salary defined benefit pension scheme can be a lengthy process.  It can rarely be completed in less than six months from start to finish, and timescales of up to 12 months are not uncommon.

The situation could potentially get worse as new Government rules, which came into force on 8 November 2021, require scheme trustees to exercise greater care before releasing transfer funds.  It gives them the right to refuse the transfer request.

To fulfil their new responsibilities, the trustees are likely to carry out more stringent checks before agreeing to a transfer.  This could include contacting you to confirm you were not pressurised into the transfer, questioning the cost of the transfer with the adviser, and carrying out increased due diligence on the receiving product/pension provider.

The rules are designed to protect you from falling victim to a scam, which we all welcome, but it's likely to result in longer delays in the transfer process as Trustees begin to carry out the extra checks.

This could be particularly noticeable if the transfer value is going to a non-standard product or a pension provider with whom the trustees are unfamiliar, as the due diligence checks could take longer than for providers they deal with on a regular basis.

Click the next link to learn more about how the rules are affecting final salary defined benefit transfers.

For Your Final Salary Defined Benefit Pension Review, Please Complete The Form Below

Final Salary Defined Benefit Pension Review

Providing your CETV is expected to be at least £100,000, to discover whether you should consider transferring your final salary pension from a former employer to a pension in your name, please complete all the fields of the form below.  It's not necessary at this stage to have a current CETV.

  • If you’re under 55, it won't be possible to review your pension unless you have exceptional circumstances (for example: ill health; significant wealth beyond your pension; no dependants; you're a professional investor). Please describe your circumstances in the box below entitled "What other relevant information should we know?"
    DD slash MM slash YYYY
  • Please tick all relevant boxes.
  • It's usually the name of your former employer. For example: British Telecom Staff Pension Scheme.
  • CETVs under £100,000 won't be reviewed. CETVs under £200,000 will only be considered if you have exceptional circumstances, which you should describe in full in the next box.
  • For example: stockmarket investments; peer-to-peer lending; commercial property.
  • If you have specific questions or information that might affect your transfer, please detail it in the box below (if there's nothing, please put N/A).
  • If you have a current CETV, or an expired CETV, or a statement from your former pension provider indicating the likely transfer value, please attach it below. It is not necessary to wait until you've received a current CETV as this will be obtained in Stage Three.
    Max. file size: 10 MB.

investments

Popular Investments

If you’re looking to diversify your pension or other money beyond the stockmarket, or you want the best return on your deposit accounts with the highest level of consumer protection, here are popular investments chosen by SIPPclub Gold Members.



IMPORTANT NOTE: NOTHING FEATURED ON SIPPclub IS EITHER AN IMPLIED OR A SPECIFIC RECOMMENDATION TO MAKE, OR TO REFRAIN FROM MAKING A FINANCIAL DECISION.  THIS PAGE HAS NOT BEEN APPROVED AS A FINANCIAL PROMOTION.

If you request an introduction to a pension or investment provider, you explicitly accept SIPPclub's Terms, and you acknowledge this is neither an endorsement by SIPPclub, nor a recommendation to invest or not to invest.

As SIPPclub neither advises on, nor arranges, nor recommends specific investments or strategies, we're unable to say whether a SIPP or SSAS or any investment is right for you.  Ultimately, it’s your money and your decision, and you should only proceed once you're satisfied you've undertaken sufficient due diligence.  If you need advice, you should speak to your trusted adviser, or you could find a local adviser from Unbiased.co.uk.  Alternatively, we'd be pleased to introduce to a suitably qualified independent financial adviser.

pension cetv | transferring a defined benefit pension | final salary pension transfer advice | transfer my pension | pension transfer form | transfer advice | transfering pension | defined benefits ssas | section 32 buyout | wishart | Bartholomew Hawkins | cetv pension transfer valuation | is it worth transferring my pension | pension review service | transfer value analysis | pension transfer values | pensionsmatter | suttons | final salary pension transfer specialist | db pension | calculating transfer value of final salary pension | cash equivalent transfer value | db transfers | i want to transfer my pension | frozen pension | should i transfer my final salary pension | pension fund transfer | pension transfer options | transfer final salary pension into sipp | defined benefit pension transfer advice | cetv pension calculator | final salary pension transfer | pension transfer advice cost | pension cash equivalent value | alexander douglas | transfer value analysis service | pension transfer timescales | section 32 pension | defined benefit pension transfer | transferring final salary pension | pension transfer value calculation stages | final salary pension transfer ban | transfer final salary pension | pension transfer fees | db pension transfer | how long does a pension transfer take | transferring final salary pension to sipp | transfer value of pension | calculate final salary pension transfer value | should i transfer my defined benefit pension | db pension scheme | defined benefits sipp | cetv pension | db pension transfer value | defined benefit transfer advice | transfer final salary pension to personal pension | pension transfer value calculation | transfer out of defined benefit pension | how to transfer pension from previous employer | uk pension transfer | transferring out of final salary pension | pension transfers direct | final salary pension transfer analysis | transfer defined benefit pension to sipp | defined benefit transfer | transferring pensions from one company to another | transferring final salary pension schemes | cash transfer value of pension | how to transfer my pension | transfer value final salary pension | ip wealth | final salary pension transfer to sipp | pension cash equivalent value calculator | ifa pension transfer fees | difference between pension fund value and transfer value | transfer value pension | pension cash equivalent transfer value | drewberry | how long does it take to transfer a pension | final salary sass | final salary pension transfer calculator | harris ifa | final salary transfer value calculator | transferring a final salary pension | transferring defined benefit pension | wendy cochran | pension transfer advisors | what does pension transfer value mean | transfer value | pension fund transfer value | tvas report | pension transfer rules | final salary pension advice | final salary transfers | pension transfer calculator | transferring pension | final salary transfer advice | transfer value of final salary pension | pension transfer specialists | what is a pension transfer value | defined benefits transfer | pension transfer charges | pension transfer costs | transferring your pension | final salary pension transfers | should i transfer out of a final salary pension | pension transfer permissions | final salary sipp | pension transfer | cash equivalent transfer value pension | defined benefit pension transfers | final salary pension transfer value calculator | cash equivalent transfer value pension in payment | final salary pension transfer value | transferring pensions | pension transfer advice | pension transfer application | can i transfer my final salary pension | cash equivalent transfer value examples | can i transfer my defined benefit pension | enhanced transfer value | do i need a financial advisor to transfer pension | defined benefit transfers | independent financial advisor pension transfer | db pension transfer advice | should i transfer my pension | should i transfer my final salary pension to a sipp | calculate cetv of a pension | pension transfer specialist | can you transfer a pension | cash equivalent transfer value final salary | pension transfer analysis | pension transfer value analysis | fca pension transfer specialist | pension transfer process | final salary transfer values | defined benefit transfer value | transferring a final salary pension to a sipp | cetv pensions | final salary transfer value analysis | pension transfer value | transfer value analysis report | blue sky financial | transfer company pension to sipp | final salary transfer | McCudden Hughes | defined benefit pension transfer value calculator | gmp pension transfer | generation financial | critical yield calculator pension transfers | pension transfer value calculator | src wealth | transfer pension | transfer value of defined benefit pension | first equitable | fca pension transfer | transferring a pension | uss pension | uss transfer | university superannuation scheme | uss cash equivalent transfer value | uss cetv | uss deferred pension | uss lump sum payment | uss pension benefits | uss pension deferred benefits| uss pension statement | uss pension transfer out | uss pension transfer value | university superannuation scheme transfer | 3i | Airways Pension Scheme | Antofagasta | Associated British Foods | AstraZeneca | Aviva | AXA | BAA | Babcock International Group | BAE Systems | Bank of England | Barclays Bank | BAT | BBC | BMW | Boots | BP | British Airways | British American Tobacco | British Coal | British Steel | BT | Centrica | Civil Aviation Authority | Co-op | Devonport Royal Dockyard | Diageo | Direct Line Insurance | E.ON | EDS | Electricity Supply | Evraz | Exxon Mobil | Ford | Fresnillo | Fujitsu | GE | GEC | GKN | GlaxoSmithKline | GSK | HBOS | Heathrow Airport Holdings | HSBC Bank | IBM | ICI | Imperial Tobacco | InterContinental Hotels | Invensys | ITV | Jaguar | John Lewis Partnership | Land Rover | Lloyds Bank | Marks & Spencer | Mars | Micro Focus International | Mineworkers | MMC | Mondi | National Grid | Nationwide | Nestle | Network Rail | New Airways Pension Scheme | Old Mutual | Pearson | Premier Foods | Prudential | Railways | RBS | Rentokil Initial | RHM | Rolls-Royce | Rosyth Royal Dockyard | Royal Dutch Shell | Royal Mail | RWE npower | Sage Group | Sainsbury’s | Santander | Schroders | ScottishPower | Shell | Shire | Siemens | Sky | Southern Electric and Scottish Hydro Electric | Standard Life | Sun Alliance | Tesco | TFL | The Co-operative Group | The RBS Group Pension Fund | TPT | Unilever | United Utilities | Universities Superannuation Scheme | USS | Vodafone | Yorkshire and Clydesdale Bank | Zurich