Final salary pension advice
Whether you are looking to take retirement benefits from your current employer’s scheme, previous employer’s scheme(s) or a combination of the two, we can help you get the most from your pension.
What will your final salary scheme provide?
You will have the choice to take an annual pension or forgo some of the annual pension for a tax-free lump sum and a reduced annual pension. This pension will usually increase each year and will usually include provision for your spouse in the event of your death.
How can we help?
At Bartholomew Hawkins we have the expertise to analyse your Final Salary Pension Scheme. The Financial Conduct Authority only allow firms to give advice on final salary schemes where they have a member in their team who holds the advanced pension planning qualification on pension transfers. We are privileged to have three members in our team with this qualification.
There is a common misconception that you have to take your pension from the Final Salary Scheme. This is not the case as you are able to obtain a transfer value from the Final Salary Scheme and take retirement benefits under a personal arrangement outside of the scheme.
On your written authority we approach the administrators of your pension scheme to obtain a Transfer Value quotation and confirmation of pension figures available under your existing Final Salary Scheme.
We then carry out a detailed analysis and will discuss all the retirement options available to you, as well as the potential risks of any course of action, before agreeing a proposal to best suit your individual needs.
It can be a complex process in determining the right course of action at retirement. However, having that right advice could significantly enhance your lifestyle in retirement and provide for those closest to you.
Please contact one of our experts to discuss things in more detail or visit the final salary pension schemes page for further information.