Final Salary Transfers

On this page

About

Money Alive’s Final Salary box set is an engaging, comprehensive, efficient and consistent way to educate clients about the things they need to know and think about if they are considering transferring a deferred final salary pension.

Given the FCA’s concern about suitability and potential for adviser bias in final salary transfers, being able to provide evidence of client engagement is paramount.

Our Final Salary box set

The box set examines issues including risk, tax, dependents, flexibility and death, as well as the different options people have at retirement. The information is generic and does not take the individual's circumstances or scheme specifics into account and is widely used by pension transfer specialists to help them meet the FCA’s triage requirements. It is also used by pension schemes for member education.

The Final Salary box set is written and updated by experts, a legal specialist and PI professionals and accredited by the Pensions Management Institute.

Will it fit into my DB triage process?

The Money Alive Final Salary box set is available with all Money Alive plans. Our video box set and engagement reporting can be used to supplement your existing DB triage process, providing a simple all-in-one reporting and video engagement solution.

Chapters

1. Stay or Transfer? - 3 min

The options available to members of final salary schemes who have preserved pensions and wish to review their benefits.

2. Guide to staying in the scheme - 4 min

How your final salary scheme works, the pension benefits it will provide you and their advantages and disadvantages.

3. Is my preserved pension frozen? - 5 min

What happens to your pension whilst you are a deferred member of the final salary pension scheme.

4. What happens when I retire? - 5 min

The options available to you when you retire and how the guaranteed pension income you receive will increase.

5. How will my pension be taxed? - 3 min

How your final salary pension will be assessed for tax on the day you retire and in retirement.

6. What will happen on my death? - 4 min

Find out what benefits would be offered to your family on your death.

7. Are there any risks? - 6 min

What would happen if both your final salary pension scheme and the employer were in severe financial difficulty.

8. Case study - staying in - 5 min

An example of someone who might benefit from staying in their final salary scheme and keeping their benefits.

9. Transferring to a private pension - 5 min

A summary of what would happen if you decided to transfer to a private pension pot and their advantages and disadvantages.

10. Do I need advice? - 5 min

Why you will need to take professional advice if you wish to formally review your preserved pension and who can help.

11. Is a transfer financially viable? - 4 min

Find out what is meant by ‘Critical Yield’ and ‘Transfer Value Comparator’ and why they are important in a review of your pension.

12. What would happen when I retire? - 5 min

Find out more about the options available to you when you decide to take your benefits from a private pension pot.

13. What are the risks if I transfer? - 4 min

The risks you will expose yourself to when transferring your preserved pension to a private pension pot.

14. How do I avoid scams? - 3 min

How scams pose a serious threat to your pension savings and the steps you can take to protect yourself.

15. How would my pension be taxed? - 3 min

How your new pension benefits would be assessed for tax whenever you decide to take them.

16. What happens on my death? - 3 min

What happens to a private pension pot, the options available to your beneficiaries and how these benefits are taxed.

17. Case study - transferring out - 6 min

An example of someone who might benefit from transferring their final salary pension to a private pension pot.

Total Runtime - 1hr 16mins

This content is coming soon. Please check back later.
See also