Is it right for me to transfer my pension?

Everyone’s circumstances are different. The factors which will determine whether it is advisable to transfer your pension include:

• Your pension type:  Most UK pensions can be transferred to a QROPS but not final salary or defined benefit schemes already in drawdown
• Your residency status: Whether you plan to retire overseas; return to the UK; or are undecided
• Your pension value: We only advise transferring a pension where the transfer will generate sufficient tax savings to justify the set-up costs – the value varies according to a person’s circumstances
• How near you are to retirement

PensionsPlus will make sure your pension is protected and will design a flexible plan for your retirement suited to your individual circumstances. That could mean transferring your pension directly into a QROPS or transferring into a low-cost SIPP with no exit charges initially meaning your pension is portable and easily transferred into a QROPS when circumstances allow.