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Get more flexibility from your defined benefit pension.

Our expert Defined Benefit Pension advice aims to help you make the best decisions for your retirement plans.

Date last reviewed: May 2nd, 2024

Specialists inDefined Benefit Pension advice.

True Potential are trustedby more than 528,000 investors.

Benefits of Defined Benefit Pension Advice.

  • Compare your transfer value against the benefits of remaining
  • Understand how to best access your money for your needs
  • Plan the best way to leave your pension to your family
  • Review your entire financial life to make the best overall decision

How we offer you more.

Dedicated video, phone and email support

Award-winning technology to track your money 24/7

Download our free guide to Defined Benefit Pensions

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What is a Defined Benefit Pension?

Sometimes called a ‘Defined Benefit’ or ‘Occupational’ pension, a Defined Benefit Pension pays you a set amount of money for the rest of your life once you retire.

While this can provide valuable benefits and security, you also have the option to transfer your Defined Benefit Pension into a more flexible Personal Pension.

Your pension will offer you a ‘Cash Equivalent Transfer Value’ – the cash value placed on the total benefits of your pension. If you don’t have one of these, you can request one from your pension scheme.

There are many points to consider when thinking about transferring out of a Defined Benefit Pension, which is why the government made it a legal requirement to take advice if your value is over £30,000.

For example, by remaining in a Defined Benefit Pension you could benefit from a guaranteed income for life, death benefits for your spouse and children, and inflation-linked income to keep pace with the cost of living. We’ll help you understand the benefits of transferring and of staying in your Defined Benefit Pension, so you can make the best decision for your personal circumstances and long-term goals.

Please note: we are only able to review Defined Benefit Pensions with a cash equivalent transfer value of at least £100,000.

Get in touch

We’re specialists in Defined Benefit Pension advice.

Our team of expert Pension Transfer Specialists are all qualified to provide advice on Defined Benefit or Defined Benefit Pension schemes.

We’ll begin with a free assessment, which will allow us to decide whether we can provide advice on a transfer. If we can provide advice and you choose to proceed, we’ll assess your Defined Benefit Pension against your circumstances to advise whether transferring to a more flexible Personal Pension is suitable for you.

As part of our recommendation, we consider:

  • the value of your transfer
  • the guarantees or benefits you may be giving up
  • other investments you have
  • your overall financial needs and goals

We’ll then present our recommendation to you in a document as well as by a phone or video call from one of our specialists, who can also answer any questions you have.

If you choose to transfer your pension, we’ll then take care of everything for you – including contacting your pension trustees and processing the transfer.

Get in touch

Our fees and charges.

We believe in keeping fees simple, transparent and great value for money. We’ll talk you through all costs before you sign up and you’ll always be able to see them in your account.

For Defined Benefit Pensions, we offer a free initial assessment and if you choose to take advice we charge 1% of the value of your pension, capped at £3,000.

You’ll then pay our standard ongoing fees, which you can see on our fees page.

Our fees cap

£3,000

Our competitors fee cap

£10,000+

Ready to do more with your defined benefit pension?

If you’d like to find out if our service is right for you, have a transfer value of over £100,000 and want to know how we can help you do more with your money, please get in touch.

Support by phone.

Not yet a client and need more information?

If you would like information on our defined benefit pension service and are not an existing True Potential Wealth Management client, you can speak to our friendly team over the phone.
Call us on 0191 625 0350

Are you already a client?

If you’re already a True Potential Wealth Management client and need to speak to the Relationship Management Team.
Call us on 0191 500 9164

Available:

7am – 8pm weekdays

Brought to you by True Potential Wealth Management.

True Potential Wealth Management offers restricted financial advice. Our service is specifically designed for clients wishing to access their financial affairs online. With investing your capital is at risk. Investments can fluctuate in value and you could get back less than you invest. Tax is subject to an individual’s personal circumstances, and tax rules can change at any time.

True Potential Wealth Management LLP is authorised and regulated by the Financial Conduct Authority, FRN 529810. www.fca.org.uk

Registered in England and Wales as a Limited Liability Partnership No. OC356611.

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