Better Retirement Group
Better Retirement Group which has traded under the name of SIPP Club for a long period of time has been regulated to give advice for around 21 years, the firm specialised in advising client to transfer their defined benefit or final salary pensions until they gave up their permissions in 2020.
With a Defined Benefit pension, you get the following benefits (amongst others):
- Guaranteed pension. This means that your pension will live as long as you, you never need to worry about it running out. The pension will pay you an income for the rest of your life.
- Guaranteed death benefits. Your spouse (and sometimes your children) will benefit from the scheme when you die, most schemes have a 50% spousal benefit which means that your Spouse will receive half of the income that you received for the rest of their life. Meaning that you do not have to worry about making sure they are left with enough money after you are gone.
- No investment risk. With a Defined Benefit scheme, the sponsoring employer is responsible for making sure that there is enough money in the fund to pay you and they have a duty in legislation to do so.
- Protection from the PPF. If for whatever reason your employer does fail in their duty to keep the scheme funded, the Pension Protection Fund will cover you for at least 90% of what you would have received, should this have been paid by the original scheme.
- Index linking. A defined benefit scheme is index linked which means that it is guaranteed to increase by either RPI or CPI (depending on the scheme) meaning that your spending power will keep up with inflation.
By transferring out of such a scheme, you become in control of where your pension is invested, paying the fees associated and ensuring that the money within your pension will last for the rest of your life which can sometimes prove a difficult task.
If you have received advice from Better Retirement Group, all you need to do is fill in the form below and we will call you to discuss the advice you have received.
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