Summary: This comprehensive box set covers the benefits of staying in a DB scheme and explores the implications of transferring outIncludes information on tax, risks, death, as well as other topics and case studies too. This box set is accredited by the PMI and is part of the PFS Gold Standard. It is widely used by advisers for DB triage.
Deferred members of final salary pension schemes who are considering transferring their pension.
Money Alive’s Final Salary box set is an engaging, comprehensive, impartial and consistent way to educate clients about the things they need to know and think about if they are considering transferring a deferred final salary pension.
Given the FCA’s concern about suitability and potential for adviser bias in final salary transfers, being able to provide evidence of client engagement generic unbiased information is paramount.
The box set examines topics including risk, tax, dependents, flexibility and death, as well as the different options people have at retirement. The information is generic and does not take the individual’s circumstances or scheme specifics into account and is widely used by pension transfer specialists to help them meet the FCA’s triage requirements. It is also used by pension schemes for member education.
The Final Salary box set is written and updated by experts, a legal specialist and PI professionals and is annually accredited by the Pensions Management Institute.
The video box set and detailed engagement reporting can be used to supplement your existing DB triage process, providing a simple all-in-one reporting and video engagement solution.
The options available to members of final salary schemes who have preserved pensions and wish to review their benefits.
How your final salary scheme works, the pension benefits it will provide you and their advantages and disadvantages.
What happens to your pension whilst you are a deferred member of the final salary pension scheme.
The options available to you when you retire and how the guaranteed pension income you receive will increase.
How your final salary pension will be assessed for tax on the day you retire and in retirement.
Find out what benefits would be offered to your family on your death.
What would happen if both your final salary pension scheme and the employer were in severe financial difficulty.
An example of someone who might benefit from staying in their final salary scheme and keeping their benefits.
A summary of what would happen if you decided to transfer to a private pension pot and their advantages and disadvantages.
Why you will need to take professional advice if you wish to formally review your preserved pension and who can help.
Find out what is meant by ‘Critical Yield’ and ‘Transfer Value Comparator’ and why they are important in a review of your pension.
Find out more about the options available to you when you decide to take your benefits from a private pension pot.
The risks you will expose yourself to when transferring your preserved pension to a private pension pot.
How scams pose a serious threat to your pension savings and the steps you can take to protect yourself.
How your new pension benefits would be assessed for tax whenever you decide to take them.
What happens to a private pension pot, the options available to your beneficiaries and how these benefits are taxed.
An example of someone who might benefit from transferring their final salary pension to a private pension pot.
