Do you accept transfers from defined benefit schemes?

 

Each request is considered individually by the Trustee of The People’s Pension and by B&CE as the pension provider.  Please note there’s no obligation for them to accept.

  • Regardless of the size of the transfer value from the transferring defined benefit scheme, no transfer will be accepted into The People’s Pension without the administrator/trustee(s) of the transferring defined benefit scheme giving the Trustee and B&CE certain assurances and an indemnity. We will request these accordingly, and will consider acceptance of your transfer value once we’ve received them.

 

  • For transfers over £30,000, you’ll need to enclose a copy of the independent advice you’ve received from your adviser. Only then will B&CE and the Trustee of The People’s Pension be able to consider your request to transfer into The People’s Pension.  Please note transfers can’t be accepted unless this advice contains a recommendation from your adviser to transfer your pension savings to The People’s Pension.

 

 

More…

For more information see:

Money Advice Service’s information on Transferring out of a defined benefit pension scheme

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