• Transferring your Account

    Defined Benefits Scheme

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Not sure what pension you are in?

Your Defined Benefit pension in the Scheme 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 some or all of your benefits, we highly recommend you take financial advice before making any decisions.

If your transfer value (excluding AVCs) exceeds £30,000 and you intend to transfer it to a scheme which provides ’flexible benefits‘ (for example a DC pension arrangement), we are required by law to check you’ve received advice from a financial adviser in relation to the transfer before your transfer can be paid.

You are entitled to one guaranteed cash equivalent transfer value every year, up to the last year before your Normal Retirement Age. Any additional transfer value requests will be provided at the discretion of the Trustee who may also charge for the production of that additional quotation.

For more information visit Contact us.

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