Defined Benefit Pension Transfer Specialists

Lotus Benefit Consultants Limited have specialist pension qualifications that are needed to provide full transfer advice in this complex area and if it is in your best interests it means we can provide advice relating to the transfer of your financial salary pension.

There can be benefits to transferring your defined benefit pension, but we will need to check if it's suitable for you. It will depend on many factors including your personal circumstances, the details of the pension you want to transfer and what it is you are looking to do and why.

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Transferring your pension

Leaving your pension scheme happens when you leave your employer, if you decide to opt out or stop making contributions.

If you leave your pension scheme, the benefits you've accumulated still belong to you. You have the choice to leave them where they are or to transfer them to another pension scheme.

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We can help you if transferring your pension is something you'd like to do

We’re here to guide you through the pension transfer journey – and it is a bit of a journey as a regulatory process, which is really important. There’s lots of protection for you and the main thing is that we can ascertain whether or not transferring the pension is in your best interests. If it’s not, we will tell you.

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The cost of transferring your pension

Depending on your pension company, fees can vary significantly. It also depends very much on the amount of work involved.

Normally the cost of transfer is around 1% of the value of the transfer fund or less, but that could vary. It’s always best to discuss the fees from the outset. That way you know exactly what the costs are before committing to the process.

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The value of pensions & investments and any income from them can fall as well as rise. You may not get back the amount originally invested.