Your DB pension in the Fund represents a valuable benefit and for most people taking this type of pension will be the right thing to do.
However, if you are considering transferring your benefits, we highly recommend you take regulated financial advice before making any decisions. To assist with this, some Fund members are eligible to receive a free guidance session from a financial adviser appointed by the Fund. Further information on this will be provided when you receive a transfer value or retirement quotation.
If your transfer value (excluding AVCs) exceeds £30,000 and you intend to transfer it to a Fund which provides ’flexible benefits‘ (for example a DC pension arrangement), we’re required by law to check you’ve received advice from a regulated financial adviser in relation to the transfer before your transfer can be paid.
Please beware of pension scams. Falling foul of a scam could mean you lose some or all of your money. Pension fraud is often linked to investments funded by money legitimately taken from pension schemes.
Important information about how to protect yourself from pension and investment scams is available online at fca.org.uk/scamsmart and pension-scams.com
Please contact Barnett Waddingham for more information.