Final Salary Pension Transfer Case-study

 In Pensions and Retirement Planning, Z Home Case Studies

Event Date:

The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.

Transferring out of a Final Salary scheme is unlikely to be in the best interests of most people.

The Challenge

Our client had a final salary pension (also known as a ‘defined benefit’ pension) with a Midlands based sports car manufacturer.

Our client has had health concerns and was worried that if he died then his existing final salary pension would provide only a relatively small income for his wife and children. He also needed his retirement drawdown income to be flexible, to accommodate the sporadic sale of investment properties.

Our Solution

After a detailed study, we assessed the transfer value to our client of his existing occupational (defined benefit) pension. We then summarised and presented to him all of the advantages and disadvantages of transferring out of the scheme, with particular emphasis on his objectives of providing for his family in the event of his death and the need to have a flexible retirement income.

When our client was comfortable with our analysis and had taken the decision to move away from his occupational scheme, we found the appropriate investment vehicle for the transferred funds to meet his needs and we are now implementing the plan.

Once this has been realised, his family will stand to inherit a large capital amount in the event of his death. As part of our ongoing advice service we will review his financial situation on a regular basis, to provide him with the flexible income he requires in retirement.

What’s your next step?

We offer all prospective clients an initial discovery meeting with one of our financial advisers at our expense, to see if we can be of help to you.

Book your meeting today, if you need help with a final salary pension transfer.

Kimberley Davies-Phippen
Kimberley has an MBA in International Business. Following a career of more than 25 years working with some of the world’s leading consumer publishers and media groups such as Bauer Media and Reed Exhibitions, Kimberley is now excited to be a part of Riverfall Financial and use her experience to create vibrant fresh marketing with real impact that encourages more people to engage with their money. What the Riverfall team say: ‘At last, the Marketing voice we needed and Kimberley shouts louder than anybody else!’