Are you still lucky to have a Final Salary pension?

When it came to having a pension the Defined Benefit scheme also known as a Final Salary scheme were seen as the pinnacle of pension plans.  You can see why when your company “Guarantees” you an income when you retire. The truth of the matter is, these schemes should no longer mislead their members in to believing they have a Gold Plated pension or a Guaranteed income.


Every day a Final Salary pension closes its doors to new members as they become near impossible to manage and keep funded.  The problem is due to its members living much longer than these companies ever anticipated.  The fact that members are living longer puts a great deal of strain on the financial stability of these schemes and as a result most have substantial deficits.  You may think well my pension is with is BP or BT but unfortunately this does not mean your pension is safe.  These two companies combined have close to 60 billion pounds in pension liabilities.  Your Guarantee of an income is now merely a promise providing they can still afford to fund your pension. Even if the Pension Protection Fund stepped in, due to the sheer size of these liabilities they would still need to reach an agreement and once again no Guarantee would be able to be made to its members.

Here is a real life example of a Defined Benefit Scheme closing and putting its employees pension at risk.

DB scheme closing

So ask yourself.  Are you still one of the so called lucky ones?  When we first meet with our clients many of them have no idea if they have a defined benefit or defined contribution scheme.  They also do not know what their benefits will be, if they are linked to CPI? what there partners and children will be entitled to.  Every person with a pension should know these basic facts about their scheme.  Are you one of these people?  Why not take a few moments to complete our short Questionnaire and find out just how much you know about your UK pension UK Pension Questionnaire.

Up to 15% increase in transfer values Post Brexit

15% Growth

With the UK reducing interest rates and guilt yields at all time lows, pension providers are trying to limit their liabilities by offering their members up to 15% more when they request their CETV (Cash Equivalent Transfer Value).  So if you are an expatriate with a Final Salary scheme there has never been a better time to review your provisions.

Another benefit is that you can ensure your spouse or children receive 100% of your pension when you die rather than having to struggle with a 50% reduction.


How to review your current UK pensions

Simply complete your details below and one of our team will contact you in order to answer any questions that you may have.  Or alternatively you can contact us via email at