Local Authority Pensions Are Very Valuable
Local authority Pensions are government-backed pensions that are usually a type of defined benefit pension, which offer a guaranteed income in retirement. This is based on the final salary or a career average salary and the years of service.
Most Local Authority Pensions in the UK have substantial benefits attached to them, which provide a secure income in retirement and pay substantial death benefits to spouses or dependents if the member dies before retiring.
Should I have moved my Local Authority Pension?
Members of the Local Authority Pension Scheme are often tempted to move their pension to access their tax-free cash and draw down on the funds. Once the pension is moved the member will lose all of their substantial benefits attached to the Local Authority Pension, which can leave the member substantially worse off.
· Did a financial adviser recommend transferring your Local Authority Pension?
· Did the financial adviser charge you a substantial fee?
· Were you pressurised to move your Local Authority Pension?
Here are just a few Local Authority Pension:
· Berkshire Council Fund
· Derbyshire Pension Fund
· Greater Manchester Pension Fund
· Kent PensionFund
· Gloucestershire Pension Fund
· West Yorkshire Pension Fund
· Merseyside Pension Fund
· Strathclyde Pension Fund
· West Midlands Metropolitan Authorities Pension Fund
If you moved your Local Authority defined benefit pension, we would recommend that you speak to one of our claim specialists fora free no-obligation assessment on 0800 061 4585
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