A pension transfer means giving up your scheme benefits in return for a cash value…
A pension transfer from a defined benefit, salary-related, pension scheme means giving up your scheme benefits in return for a cash value which is invested in another pension scheme.
If not handled by a professional in most cases you’re likely to be worse off if you transfer out of a defined benefit scheme, even if your employer gives you an incentive to leave.
Before you go ahead, you should seek advice from a regulated financial adviser.
Exshell Financial Services Trust can assist employees in transferring out of a defined benefit pension scheme.
