Our service can also advise on:
25% Tax-free lump sum – if you’re 55 years of age or older, you might be able to take a tax-free lump sum from your pension.
Investment growth – a drawdown pension allows you to keep your savings invested, meaning your money could continue to grow, unlike if you purchase an annuity.
Lower fees and charges – there can be huge differences between different pension policies and the charges they incur.
Reduced risk – as you get closer to retirement, a higher risk pension may not be suitable for your personal circumstances.
Final Salary Pensions
It’s a legal requirement to seek professional financial advice from a fully qualified adviser who is authorised by the Financial Conduct Authority (FCA), if your pension is valued over £30,000.
At Pension Works – we hold the necessary qualifications to advise on Defined Benefit (Final Salary) pensions.
Reducing charges – your pensions may have different annual management charges, some lower than others, so it could make sense to combine your pensions into one with lower fees.
Easy to track – it’s critical to keep a close eye on your pension savings. Moving them into one pension scheme could mean you don’t lose track of your money.