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VIDEO:

Final salary schemes, the options

Do you stay or transfer?

Watch our helpful video, made in partnership with Money Alive, that provides a summary of the options available to members of final salary schemes who have preserved pensions and wish to review their benefits.

What's in the video?

This video has 17 chapters:

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Chapter 1: Stay or transfer?

The options available to members of final salary schemes who have preserved pensions and wish to review their benefits.

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Chapter 2: Guide to staying in the scheme

How your final salary scheme works, the pension benefits it will provide you and their advantages and disadvantages.

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Chapter 3: Is my preserved pension frozen?

What happens to your pension whilst you are a deferred member of the final salary pension scheme.

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Chapter 4: What happens when I retire?

The options available to you when you retire and how the guaranteed pension income you receive will increase.

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Chapter 5: How will my pension be taxed?

The options available to you when you retire and how the guaranteed pension income you receive will increase.

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Chapter 6: What will happen on my death?

Find out what benefits would be offered to your family on your death.

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Chapter 7: Are there any risks?

What would happen if both your final salary pension scheme and the employer were in severe financial difficulty.

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Chapter 8: Case study - staying in

An example of someone who might benefit from staying in their final salary scheme and keeping their benefits.

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Chapter 9: Transferring to a private pension

A summary of what would happen if you decided to transfer to a private pension pot and their advantages and disadvantages.

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Chapter 10: Do I need advice?

Why you will need to take professional advice if you wish to formally review your preserved pension and who can help.

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Chapter 11: Is a transfer financially viable?

Find out what is meant by 'Critical Yield' and 'Transfer Value Comparator' and why they are important in a review of your pension.

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Chapter 12: What would happen when I retire?

Find out more about the options available to you when you decide to take your benefits from a private pension pot.

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Chapter 13: What are the risks if I transfer?

The risks you will expose yourself to when transferring your preserved pension to a private pension pot.

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Chapter 14: How do I avoid scams?

How scams pose a serious threat to your pension savings and the steps you can take to protect yourself.

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Chapter 15: How would my pension be taxed?

How your new pension benefits would be assessed for tax whenever you decide to take them.

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Chapter 16: What happens on my death?

What happens to a private pension pot, the options available to your beneficiaries and how these benefits are taxed.

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Chapter 17: Case study - transferring out

An example of someone who might benefit from transferring their final salary pension to a private pension pot.

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To view the guide, simply click the button below to register and view.

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Financial Framework Wealth & Estate Planning Ltd is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate will writing, taxation and trust advice. Not all Inheritance Tax Planning solutions are regulated by the Financial Conduct Authority. We are entered on the Financial Services Register No. 843450 at https://register.fca.org.uk. Registered office: 35 Westgate, Huddersfield, HD1 1PA. Registered in England No. 11602026. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

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