Defined Benefit Pensions and ‘Safeguarded’ Benefits - we are ‘Pension Transfer Gold Standard'

We are delighted to have received and been recognised for adopting the 'Pension Transfer Gold Standard'. This essentially means that we are making sure we conduct business in the right way when it comes to Safeguarded Benefits and Defined Benefit Pension markets. We centre our advice with the client’s best interest at heart. We take the time to understand your assets, what you want from life, and help you live the life you want.

Many people work with an organisation from young and start planning a pension at 65 – the markets are forever changing, and this is not always the best option.  We want to help our clients from ‘sleep-walking’ into retirement. However, it’s about planning your life, not your pension.


Who regulates the standard?

The Pensions Advice Taskforce is a representative industry body set up by The Personal Finance Society - the professional body for the financial advisory profession in the UK. The society helps consumers recognise good practice, ethical and professional standards when seeking financial advice on pension transfers.

It is also part of the Chartered Insurance Institute, the world’s largest professional body dedicated to insurance and personal finance that seeks to ‘secure and justify the confidence of the public.’

What is the Pension Transfer Gold Standard?

The ‘Gold Standard’ is a benchmark of good conduct for Safeguarded and Defined Benefit Pension Transfers advice. 

When it comes to pension transfers, it’s not surprising to say they can be complicated! There are a lot of factors to consider. Being recognised as a ‘Gold Standard’ firm means that we adopt and promote a high standard set of principles when advising our clients. We will always ensure that we have your best interests at heart.

As a result, you can be confident that you are approaching an ethical adviser that will offer you tailored financial advice in relation to whether you should transfer your pension or not.

What you should expect from us as financial advisers adopting this standard?

As a ‘Gold Standard’ firm, you can guarantee that we will do our utmost to help you consider the following:

  • What the implications of a transfer are (without the jargon)
  • How our advice fits your objectives and what you would like to achieve
  • If the advised option was to transfer, use our expertise to help you decide what to transfer and where
  • Be fully transparent and take necessary steps to ensure that you understand all the costs involved
  • Any conflicts of interest in giving pension transfer advice and how these are managed in your best interests

Essentially, you should always be able to trust us with confidence as an approved organisation.

We know how complex pensions transfers can be, therefore seeking advice from a financial adviser should help you make an informed decision, that’s right for you. Get in touch if you are considering transferring your pensions.

The small text:

The Government has made it a legal requirement to seek financial advice before you can transfer, if you have what’s called ‘safeguarded benefits’ – in particular if you are in a defined benefit pension scheme or have a guaranteed annuity rate – and your benefits are worth £30,000 or more. This rule is there for your protection to make sure you are aware of all the pros and cons of transferring.

*Please be aware of guidance from the FCA that when giving advice in this area a financial adviser should start with the assumption that a transfer will be unsuitable due to the value of guaranteed benefits to be given up in the event of a transfer. As such, the advice you receive may be to do nothing and leave your benefits where they are.

Please see the full Pension Transfer Gold Standard Consumer Guide and website for more information

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