You don’t need much information to use our final salary pension calculator – you don’t even need to have received a cash equivalent transfer value (CETV).
But how do you calculate what your final salary pension is worth in terms of its transfer value? Or if you’ve already received a CETV, how do you know whether that pension transfer value is a good deal? Simply pop your details into our calculator below to find out.
The only concrete details you’ll need to use our defined benefit pension transfer calculator are:
These can easily be obtained by contacting your pension scheme if you don’t already have them to hand. The other components of the final salary transfer value calculation depend very much on you and your circumstances.
Final salary pensions have long been seen as the gold standard of retirement savings because of the guaranteed income on offer.
However, such promises aren’t cheap, especially in an era of rising longevity and depressed investment returns. As such, pension transfer values have skyrocketed as pension providers use tempting transfer offers to nudge members towards transferring out of final salary pension plans.
Drewberry has published a guide on this topic if you have more questions about what a CETV is and what high final salary pension transfer values mean for your pension.
Our Final Salary Pension Transfer Calculator is designed to be used alongside the page on final salary pension transfer advice to give you an outline of your options if you have a defined benefit pension and are considering a pension transfer. However, neither should be taken as financial advice.
We find there’s no substitute for help on the other end of the phone, so why not give one of our qualified pensions experts a ring on 02084327333?
We’re here to offer you pensions advice on all aspects of final salary pension transfers, including wealth management of your pension pot after the transfer should a final salary pension transfer be in your best interests.
It is strongly recommended that you speak to a pensions adviser if you’re considering a final salary pension transfer. Don’t forget, this is a mandatory FCA requirement if your DB pension is worth more than £30,000.
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