Pension Transfer Advice

When employees are moving from a defined benefits scheme to a defined contribution arrangement there is much need for a thorough communication strategy to ensure they fully understand the reasons for the change, and also the options they have in relation to the benefits they've built up to date.

As a response to demand from employees, employers and pension advisers, we've built a Pension Transfer Advice service that enables employees to make informed decisions about what action to take in relation to their existing benefits.

The options they have are to leave the benefits where they are, move them to the new employer scheme, transfer to an individual trustee "buy-out" plan or move to an individual personal pension plan.

Many of the issues that affect an individual's decision will be personal to them, so those who wish to have advice will be required to provide personal information about their retirement objectives, their attitude to investment risk and their health. Our team of expert advisers will then guide them through a questionnaire, and help them to reach a decision based on our detailed individual report.

We believe that this service will be of great value to employees, and consequently employers, in ensuring that one of the most sensitive issues in employer/employee relations is handled thoroughly and competently by highly trained specialist advisers.

For further information on Pension Transfer Advice, please contact us on corporatesolutions@prudential.co.uk