Pension schemes with employers and employees in mind
A defined benefit pension scheme is one that provides its members with a known amount of benefit on retirement regardless of investment performance or the level of charges and member contributions. The benefits provided are normally linked to length of service and the member’s earnings but can be made up of several elements or layers, making understanding them quite complex.
- We are able to provide advice to both members and trustees of defined-benefit pension schemes. Providing advice to members requires both specialist qualifications and specific regulatory permissions.
- Advice can be provided to members regarding the benefits they hold and what they may be worth in the future, along with other elements such as dependents’ pensions, future annual increases and a scheme’s funding position.
- We can also discuss options, along with their benefits and drawbacks, that may be available to members who wish to transfer their benefits from their current scheme to another pension provider.