Financial Planning, Pensions, QROPS

The end of public sector pension transfers

28 Nov , 2014  

TimePension transfers from public sector pension schemes will be banned forever in five months.

This means that from April 2015 transfers will no longer be permitted from the following ‘unfunded’ public sector schemes:

  • NHS
  • Teachers
  • Civil Service
  • Police
  • Armed Forces
  • Fire fighters

Pension members, who are thinking of moving abroad or who are already living overseas, need to take action as there are significant benefits that the member will be missing out on by not being able to transfer out of their UK pensions; for example:

  • Greater investment choice
  • Receiving retirement income in the same currency as your lifestyle
  • The option of receiving your pension in a flexible manner
  • Being able to access your pension sooner
  • Tax effective income payments
  • Greater lump sum opportunities

Take action

It is clear that you have a limited window of opportunity to make enquiries about your options.

My service includes:

1. An initial discussion – which is free of cost and obligation.
2. If we decide together that a transfer is the right option for you, I will then request a Cash Equivalent Transfer Value on your behalf – which is free of cost and obligation
3. The valuation should take a maximum of three months, once returned I will complete a transfer value analysis.
It is only at this point that you can authorise the transfer.

There is a lot to do, and you have nothing to lose by having an initial discussion, so make an appointment today!

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