Your Options
If you have a "preserved" or "frozen" company pension scheme you have various options available.
Although a pension is a form of saving for retirement it is not as straightforward as taking your money out of a bank
account. Due to the tax benefits given to pensions the Inland Revenue apply strict rules to them, (such as the earliest age
you can take your pension), to ensure people still have some pension savings when they come to retire.
Assessment
Before you reach retirement it is worth assessing what you want from your pension and considering the available options. In
principle, you have four main options, these are;
As pension schemes are different it is important to compare your pension scheme benefits against other options. The
Financial Services Authority (FSA) stipulate how financial advisers must compare company pension benefits and impose
regulations on how "Transfer Analysis Reports" are produced.
To help you consider the various pension transfer options look at our website page Decide For Yourself or look at our
regulators website www.fsa.gov.uk/consumer
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