Pension Transfer Specialists

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0161 519 8500

  • Home
  • Our services
    • Pension Review Service
    • DB Pension Transfer
    • Will Planning
  • About Us
    • Gold Standard
    • More about us
    • FAQ's
    • How We Work With You
    • Downloads
  • Privacy Policy
    • Privacy Policy
    • Terms of Use
  • Contact Us
    • Contact Details

FAQ's

What is a Defined Benefit (DB) pension?

What is a Defined Benefit (DB) pension?

What is a Defined Benefit (DB) pension?

It is a scheme usually based on how long you have worked for your employer and the salary you have earned whilst in their employment. They pay out a secure income for life which increases each year in line with inflation.

Can all DB's be transferred?

What is a Defined Benefit (DB) pension?

What is a Defined Benefit (DB) pension?

 No, some DB pensions such as public sector pension schemes cannot be transferred.

Are DB transfer values falling?

What is a Defined Benefit (DB) pension?

Are DB transfer values falling?

We have seen DB transfer values fall dramatically in 2022 as a result of significant rises in gilt yields. According to XPS Pension Group’s Transfer Value Index, they have found that transfer values fell a total of 36% over the year.

Should I transfer my DB scheme?

How do I get a Cash Equivalent Transfer Value (CETV)?

Are DB transfer values falling?

Transferring a DB pension may give you more options for your retirement, but it's not right for everyone. 

How long does a DB pension transfer take?

How do I get a Cash Equivalent Transfer Value (CETV)?

How do I get a Cash Equivalent Transfer Value (CETV)?

 Historically, it could take around 6 months to transfer a Defined Benefit pension.

How do I get a Cash Equivalent Transfer Value (CETV)?

How do I get a Cash Equivalent Transfer Value (CETV)?

How do I get a Cash Equivalent Transfer Value (CETV)?

 You need to get a ‘transfer value’ from your scheme. The transfer value is the amount you will get if you transfer. If you don't have this, we can obtain this for you. 

How long are CETV guaranteed for?

What research can I do to make sure my adviser is regulated?

What research can I do to make sure my adviser is regulated?

 Your transfer value is only guaranteed for 3 months. It may go up or down if it is recalculated. You may have to pay for another transfer value if you ask for one again within 12 months. 

What research can I do to make sure my adviser is regulated?

What research can I do to make sure my adviser is regulated?

What research can I do to make sure my adviser is regulated?

You can search us on the MoneyHelper adviser directory here or find us on the FCA register here

When can I take my DB pension?

What research can I do to make sure my adviser is regulated?

When can I take my DB pension?

 DB schemes normally have a retirement age that will usually be 65 or your State Pension age. You might be able to take your pension from the age of 55. But be aware that choosing this option can reduce the amount you get. 

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Haven Protect Limited is a company registered in England & Wales no. 10216588. Registered Office at Earle House, Ground Floor, Atlantic Street, Altrincham, WA14 5DD. Haven Protect Limited is authorised and regulated by the Financial Conduct Authority no. 773416. The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. 

 

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