Defined benefit pension transfers


As IFAs and Chartered Financial Planners based in Wetherby, near Leeds, York and Harrogate, we are specialists in offering advice on the transfer of a defined benefit (e.g. "final salary") pension to a personal pension or SIPP.

We can help clients with DB transfers wherever they are in the UK. No face-to-face meeting is required. No fee is charged if a transfer does not occur.

Our initial advice charge

If a transfer occurs then our full transfer advice fee, deducted from the transfer value as it moves to the new personal pension £4,950.

This covers the work involved in the transfer as well as the very significant compliance, regulatory and liability costs involved in advising on defined benefit transfers.

Please note that the above fees apply to a transfer into an "income drawdown" pension. Additional fees apply for the purchase of a lifetime annuity - please ask for details.

Ongoing charges

Once the transferred pension arrives in your new personal pension (SIPP) we will provide expert advice on how to invest it, in order to meet your financial goals while taking an appropriate level of risk.

If you choose our ongoing advice service then the total annual cost of your new pension, including the provider charge, fund management charges, and our ongoing advice charge, will typically be between 0.5% and 1% of assets per year, which is highly competitive by industry standards.

If you want to transfer a defined benefit pension in order to self-manage it, for example with a provider like Hargreaves Lansdown or AJ Bell, this is possible in certain circumstances. Please contact us to discuss this.

To discuss our service please get in touch.

For our main pension advice page please click here, or to read customer testimonials click here.

"Matthew advised me on transferring my DB pension to a SIPP. I was very pleased with his personal service - it was very efficient and thorough. Like many people I thought I knew what I wanted before the review started, but Matthew was very professional and raised all the issues that needed to be considered - making my decision much more informed and considered. This level of professional capability combined with administrative efficiency made the whole transfer smooth and painless"

Crispin Finn, London

"I asked Wendy Cochran to review the benefits of moving a final salary pension scheme. They provided a very quick response to my initial request, asking me to provide comprehensive details about the scheme and once I had done this they provided a detailed report on my circumstances within 2 days. The report was comprehensive, insightful and completely free. They recommended I take no action. Given this denied them an opportunity to earn a fee I genuinely believe they acted in my best interests."

Andrew Pattinson, Leeds

Final salary pension transfer advice, Wetherby, near Leeds, York and Harrogate, IFA

Chartered Financial Planners. Regulated by the Financial Conduct Authority (FCA no. 603653).