Defined Benefit: Final Salary Transfer

Defined Benefit: Final Salary Transfer

Tideway is one of the UK's leading pension transfer specialists

Tideway is an independently-owned firm of advisers and investment managers who offer investment portfolios for those who wish to transfer their final salary pension.

Choosing to transfer your pension is an important decision, and we offer specialist advice and management to help you find the right options for your investment.

In the past three years, we have advised on and completed pension transfers in amounts from £300,000 up to £8.5m.

What is a final salary pension transfer?

Final salary schemes are a type of defined benefit pension scheme that are offered by employers. The benefits you receive at retirement are based on your earnings and your length of membership in the scheme. Different schemes work in different ways - so you should always check your rules of your scheme.

Please remember a final salary pension transfer is an irreversible, complex transaction, with financial implications for you and your family for the rest of your lives. You should always seek help from an appropriately qualified financial adviser to get individual personalised advice on your pension options and the transfer option in particular.

How final salary schemes work

Many final salary schemes have either been closed to new members or to all members over recent years, although they are still offered by some, mainly larger, employers.

A final salary pension scheme is typically run on behalf of the employer by the Board of Trustees, who is responsible for all aspects of the scheme. This includes paying benefits to retired members. Daily management of the scheme is typically done by the Scheme Administrator, who reports to the Board of Trustees.

A final salary scheme normally offers you an income in retirement based on a proportion of your ‘final salary’, although other factors can be taken into account. It’s important to note that ‘final salary’ doesn’t necessarily mean the actual salary that you're earning at the time you retire and draw your benefits from the scheme.

If you would like additional information about final salary pension transfers, you can watch our guidance tutorials or download our free guides.

Why consider a final salary pension transfer? →

What does Tideway offer?

We provide specialist advice to assist you with your pension transfer.

Our initial services include facilitating:

Moving forwards, we will provide you with ongoing advice and investment management through our Tideway Wealth Management service. This allows you to invest your funds for optimum benefits. Our goal is to find you reliable, tax-efficient income sources throughout your retirement.

Tideway Wealth Management Limited

Tideway Wealth Management Ltd provides services to individuals who undertake a final salary pension transfer. Our clients include both UK and international residents and we manage bespoke portfolios from £2m to £20m. Our average bespoke portfolio is £4 million.

Our main aim for clients is to protect their capital and generate a secure source of income through careful investments and management of their portfolio.

Why consider a final salary pension transfer? →

Make a final salary pension transfer enquiry →

Tideway Investment Group comprises the following entities: Tideway Investment Partners LLP; Tideway Wealth Management Limited and Tideway Asset Management Limited. Tideway Asset Management Limited and Tideway Wealth Management Limited are appointed representatives of Tideway Investment Partners LLP, which is authorised and regulated by the Financial Conduct Authority. FCA number: 496214.

Tideway Investment Partners LLP
107 Leadenhall Street
London EC3A 4AF
+44 (0)20 3143 6100

© Tideway Investment Group 2019