Transferring your defined benefit pension certainly needs a lot of consideration. By transferring your pension to a defined contribution scheme (also known as a private pension) you should think carefully about the following facts.

Giving up your guaranteed for-life pension is considered the gold standard of all pensions.

By transferring away from your current scheme, you’ll be giving up a guaranteed increase that goes up in line with inflation.

All investments come with risk, and there’s no guarantee you’ll be better off.

You’ll have to pay for advice.

But there are also lots of benefits to making a pension transfer in the right circumstances. To find out if a DB pension transfer is suitable for you, contact our team here in Shrewsbury on 01743 382 002.