Hanson Financial Services

Pension Transfers in Liverpool

Helping people in Merseyside navigate their defined benefit pension.

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Defined Benefit Pension Transfers

Specialists in Liverpool

Do you have a defined benefit (or final salary) pension and are wondering about transferring to another scheme? Our financial advisers can bring the clarity you need.

Here at Hanson Financial Services, our team exists to help people in Liverpool, Merseyside and across the region to make smart decisions with their pensions.

Defined benefit pensions are complex and the rules surrounding their transfer are very strict. It is important to seek professional advice if you are thinking about moving. Remember, a transfer is irreversible and the benefits you relinquish are difficult (if not impossible) to find elsewhere in the market.

However, for some people a transfer may be the best decision in light of their financial goals. At Hanson Financial Services, we can talk you through the pension rules you need to consider and help clarify confusing areas of jargon. Our aim is to give you all the information you require to make decisions about your pension which you can feel confident in, for years to come.

How it works

  • Our financial advisers sit down with you to discuss your current pension scheme(s). This focuses particular attention on the benefits of your defined benefit / final salary pension, to see how competitive these are in the wider marketplace.
  • We discuss your financial goals together – particularly those pertaining to retirement – and analyse whether your defined benefit scheme aligns with these. If so, it is likely that we recommend staying with the pension but also making adjustments to your financial plan elsewhere (e.g. consolidating multiple pension pots).
  • If a pension transfer still looks like a viable option at this stage, our team will conduct more thorough research about alternative pension schemes which would better suit your goals. We then present the best candidates to you; careful to also outline how these compare to the benefits in your final salary scheme.
  • We then make a recommendation based on our research and your feedback.
Speak to a member of our team today…
Liverpool Office: 0151 708 7616
Manchester Office: 0161 401 0991
Chester Office: 01244 960 039
Reviews and Ratings for Financial adviser Sanjay Gambhir, Liverpool
Local Pension Services

Final Salary Pension Transfers in Liverpool

Are looking to exchange your final salary pension for a lump sum? Our team can help you find out how much you could get from your scheme’s cash equivalent transfer value (CETV). Please remember that a pension transfer is not in most people’s interests, and the benefits you give up cannot usually be found from other pension schemes. At Hanson Financial Services, we can help you identify the various options available to you on the marketplace and compare them effectively with your current scheme – giving you peace of mind.

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Local Pension Transfer Specialists

Serving people in and around Merseyside

What can you do with a lump sum released from a final salary pension transfer? There are lots of options which our financial advisers can talk through with you. A common way forward is to invest it into a pension pot, keep it there (to grow) and gradually draw a retirement income from it as needed. This is known as “flexi-access drawdown”, and it comes with certain advantages that a final salary pension does not. In particular, any unused funds after you die can be passed down to your beneficiaries.

However, again it is important to state that a final salary (or defined benefit) pension transfer will not be in most people’s interests. The benefits offered by these “gold plated” schemes are very rare nowadays and are difficult to replicate (e.g. by buying an annuity). For certain people, it can be a worthwhile option. So if you are looking for clarification and peace of mind about what is the best course for you, our financial advisers can help bring the answers you need so that you can move forward with no regrets.

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