EQ launches new guide to final salary pension transfers in response to huge demand for advice
EQ Investors (EQ), the boutique wealth manager led by John Spiers, has launched a new guide to ‘final salary pension transfers’ in response to soaring demand after cash transfer offers by schemes climbed to record highs in 2016.
EQ has seen some schemes offering transfer values at multiples of up to 40 times – achieving sums of several million pounds for individuals with long service on medium to high earnings.
The guide points out the risks involved, whilst weighing up the benefits and why advice should always be the first step. Amongst the topics covered are:
- Flexible access
- Leaving an inheritance
- Investment control
- Running out of money
- Taking investment risk
- Losing additional benefits
Within the guide are real-life case studies and a warning to be aware of scammers.
Commenting on the guide John Spiers, Chief Executive of EQ, said: “For many people, leaving their final salary pension untouched is the right thing to do. But for some, with transfer values remaining high, transferring is seriously worth considering.
“Most final salary members fail to appreciate the complexities and hurdles they will need to overcome before proceeding down the irreversible track of transferring their pension scheme. The first step is to always seek advice.”
» To download a copy of the guide click here.