Initially, you will need to obtain your Cash Equivalent Transfer Value (CETV), a document you receive from your pension scheme’s trustee.
We will send you a letter of authority that you will need to sign and return to us. This allows us to contact your pension scheme trustee and to request any additional information we require to complete your assessment.
A Cash Equivalent Transfer Value is the cash value placed on your final salary pension benefits. This is the amount that will be available for you to transfer to a personal pension plan in exchange for moving from your scheme and potentially giving up benefits and rights that you had under the existing pension scheme.
You need to apply for your CETV statement if you are considering a transfer from your final salary pension scheme. Normally a CETV has an expiry date of around 3 months (or less) so its vitally important once you receive it you give it to us so we can manage it efficiently and more importantly your expectations.
The first CETV request has no charge and you’re typically allowed one free of charge per year, but this is dependent on the scheme and so may vary. Any further requests from your trustee for a CETV may have a fee.
We provide a personalised service which includes a free initial assessment. Following this, if we make any recommendation to you, a fixed fee of £495 is payable if you choose to continue into the transfer process.
In assessing your deferred final salary pension and circumstances, our process is made up of 4 steps:
We take you through this process from finding out your Cash Equivalent Transfer Value (CETV), to assessing if a transfer is right for you and carrying out the final salary pension transfer.
Your scheme provider must give you information about your scheme if you ask for it. Reports and accounts must be made available to scheme members if requested, giving an overview of the current financial shape of the scheme. We can assist you in contacting your scheme trustees.
Your final salary pension scheme is likely to be run by a board of trustees who are legally responsible for protecting your scheme and its benefits. To find out how to contact them, your employer with whom you began paying into the scheme will have more information.
True Potential Wealth Management is authorised and regulated by the Financial Conduct Authority and cover all parts of the final salary pension transfer process, in-house. From initial assessment, we offer specialist advice and can assist you every step of the way.
True Potential Wealth Management is also a part of the True Potential Group who work with over 20% of the UK’s financial advisers and manage over £7 billion of clients’ money.
True Potential Wealth Management is part of the True Potential group. We provide a restricted service, meaning we are only able to advise on transfers into our own suite of investment funds.
After transferring your final salary pension with True Potential Wealth Management, our expert investment management team looks after your pension through our own range of investment solutions in our True Potential Portfolios.
We work with eight world-class asset managers who ensure that your money is in good hands and is protected under the financial services compensation scheme (FSCS).
Once your pension is transferred, you’ll be able to login and manage your pension through your own online account. We’ll guide you every step of the way and walk you through your online client site that you can access 24/7.
Yes – there is a mobile app for viewing your online account, so you can easily keep track of your personal pension. Following your transfer, we will set this up for you.
After setting up, you’ll have access to our friendly Customer Support team who are available 8:30am – 5:30pm weekdays by email or phone.
There are benefits attached to final salary pensions schemes, dependent on each scheme type. Your final salary pension may have guarantees or benefits that you will lose on transfer, we will assess whether it is beneficial for you to transfer or not. However, transferring your final salary pension to a private pension could offer greater flexibility in what you can do with your money.
Every person’s circumstances are different and one of our expert Pension Transfer Specialists can advise if it’s in your best interest to transfer.
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