Final Salary Pension Advice

Clear Wealth Management have over two decades of experience providing financial advice, one of the frequent topics covered is final salary pensions. Most commonly provided by larger employers, a final salary pension offers you an income in retirement based on a proportion of your final salary, however, it is not always that simple. As an experienced pension advisor, I can offer you advice on which product best suits your requirements and how best to navigate your current pension scheme, visit my office in Pontefract, a short drive from the M62 junction at Castleford, for an informal chat about your options.

I can help you navigate through the often complicated formulas that calculate what this type of pension means for you. For example, two of the more common schemes are one that is based on your final salary, and another that is based on an average of your salary over the years that you have worked. Like most pensions, the eligibility of when your payments start is determined when you started the scheme, however, these may not be set in stone; allowing you the flexibility to take early retirement or delay payments to work past retirement.

Cashing Out Your Pension

Many people are opting to change their final salary pension to a defined contribution plan, allowing an increased flexibility to withdraw multiple lump sums. I will help talk you through the pros and cons of remaining with a final salary pension and 'cashing out', as each person's individual circumstances are different. Complete our quick contact form below to arrange a convenient time to have a chat about how we can help and provide you with advice on your final salary pension.