should i transfer my Final Salary or defined benefit pension into a sipp
Many times per week we get asked "should i transfer my final salary or defined benefit pension into a sipp"
The answer to that question is as it often is "depends". It is a fact that currently the transfer values of Final Salary pensions or Defined Benefit pensions are at all time highs. This is due to the extremely low Gilt rates that have plummeted since the Brexit vote. Recently the Gilt rates have started to recover a little and it is widely expected that the transfer values will start to come down again.
In many, though not all cases now would be the right time to cash in a Final salary or Defined benefit pension scheme and transfer it to another pension such as a SIPP in order to take advantage of the current high transfer values or CETV which stands for Cash Equivalent Transfer Value.
Before you decide it is advisable to seek financial advice from a qualified and regulated pension advisor who will make an in depth analysis based on your personal circumstances.
Should you have any questions or would like a free assessment, please complete the contact form on our main page www.sipp-pension.co.uk