Final salary &
defined benefit pensions

We explain why, as tempting as it is to take your pension early, you are likely to be best off staying with your final salary (defined benefit) pension.

A ‘gold-plated’ pension

Final salary schemes were excluded from the 2015 pension freedoms which allowed people to take their pension early. To take advantage of the changes some people with final salary pension (also known as a defined benefit (DB) scheme) transferred their pension to a personal or defined contribution scheme.

A review by the financial regulator found that in many cases staying in a final salary pension was the best option. Our transfer service can help you make the best use of your hard-earned pension, savings and investments to achieve and sustain the lifestyle in retirement you want.

Helping you answer the ‘big’ questions

There are many reasons why you may decide to work with a financial planner. Perhaps you are approaching 55 and have a final salary pension with benefits worth more than £30,000.

Your individual circumstances might also mean transferring your pension is an option worth considering. Our transfer service will help you decide.

  • At Financial Planning Solutions Ltd we believe that retaining final salary benefits is in the best interests of most consumers.

  • We offer a triage service for anyone considering transferring out of their final salary scheme.

  • We also offer two level of pension transfer advice: Abridged Advice and Full Pension Transfer.

  • Abridged Advice – this includes a lifetime cashflow forecast.

  • Full Pension Transfer advice - we will carry out a full check on current financial circumstances and aims, priorities and spending plans in retirement.

  • You can learn about out charges for advice on final salary pensions by clicking here

  • Please note we do not deal with clients who specifically insist on us implementing a pension transfer on their behalf.

Client stories

We really do change people’s lives! Meet some of the clients who we’ve helped to enjoy their wealth over the years

Clive & Karen Seeley

We are delighted with the service provided by Andrew and his team. They listened to what our goals were and worked with us to provide a solution to achieve them. Andrew’s support and advice has ensured that we can now relax, enjoy our retirement and achieve those goals.

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Jeremy & Jayne Cooke

The model Andrew has provided allows us to have a choice with Jeremy’s pension. It provides funds in later life, but also allows us to have sufficient income while we are still young and fit enough to be able to do the things we want before Jeremy’s health deteriorates further.

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Jacqui Collins

Andrew completely changed the way I thought about planning for retirement. Without Andrew’s help and advice, I would probably have had to continue to work well beyond age 60. A year into retirement, my finances have worked out exactly as planned. I will always be grateful.

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Paul & Ruth Jeffries

After working hard for many years, we wanted a retirement that we could enjoy, not just ‘scrape through’. We needed to know there was still a future there to enjoy, and the plan that Andrew created for us has given us the financial security to retire with confidence.

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Graham and Sherill Worgan

On meeting Andrew for the first time we were extremely impressed by the considerable time he spent in determining and fully understanding our retirement needs and aspirations. This has contributed considerably to the enjoyable and secure retirement we have enjoyed since 2013.

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Bob and Judith Choppen

Andrew’s approach was different in that he spent a great deal of time with us understanding what we wanted to achieve from our total assets during retirement. We remain very happy and value his friendly nature and interest in our current needs.

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Your journey

We pride ourselves on the dedicated, one-to-one relationships that we build with our clients. Here’s how your journey will look.


Why work with us?

Our vision is ‘to help our clients manage their finances to live the lifestyle they want, without fear of running out of money’.

Find out more

Let’s talk

If you want to free yourself to enjoy your wealth, then get in touch using the details below or complete the form.