Pension Transfer Advice – Dave & June’s Story

Pension Transfer Advice

Dave & June's Story

Dave and June were approaching retirement and contacted Audley to conduct a review of their pensions. We advised them to obtain State Pension forecasts and also to take time to map their projected spending in retirement. As they are debt free, it was clear that their State Pensions would cover their monthly outgoings.

Dave also had a Final Salary pension from an old employer and we were asked to review this. One of their objectives was to help their son gain a foothold on the property ladder and they were keen to take a lump sum to assist. After some analysis, it was clear that they could take a higher lump sum by transferring to a personal pension and then be able to take income for themselves as and when they needed it. As their expenditure was already covered, they will be able to use the income for holidays and other luxuries. They are also pleased to know that their son has now had an offer accepted on his first house.

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