SRC Wealth Management | a Chartered Financial Planning company that provides specialist advice on defined benefit pension transfers

Case Studies

We have put together the following case studies to demonstrate how some of our clients have benefited from our retirement planning advice.


Defined Benefit Transfer
Helen - Helen (Essex) - Aged 55 Helen was made redundant by her current employer and was anxiously considering her options. She wasn’t very keen to return to full-time work but didn’t feel she had the financial resources to stop completely. Helen had however previous been employed with a major high street bank and was a member of their defined benefit pension scheme. After speaking to some ex-colleagues Helen decided to contact the scheme to request a ‘cash equivalent transfer value’. Astonished by figure quoted, Helen contacted us to ask our advice.


Investment Advice
John & Maureen (Suffolk) - John and Maureen had both recently retired from careers in the public sector. Following the death of her late mother, Maureen had received a fairly significant inheritance and was now unsure about what to do her legacy. Neither considered themselves to be risk takers, but both were aware that with bank interest rates being so low, leaving the money on deposit was not a good idea.

They were keen to set aside some money for their grandchildren and also wanted to invest ethically.

With deposit rates at historic lows, it is understandable that many people have concerns about the effect inflation may have on the long term spending power of their savings.


Investment Advice
John (Essex) - John was lucky enough to take early retirement from teaching and now enjoys spending most of his days on the golf course. Single and with no direct next of kin, John’s main concern was to ensure that his investments continued to keep pace with inflation so that he could continue to maintain his current lifestyle.

John had accumulated his investment portfolio over a number of years. However, given the number of different funds he now held, he was finding it increasing difficult to manage his affairs. He was also unhappy with the service he was receiving from current adviser, as contact was often sporadic and communication tended to be by
post only.


Investment Advice & Estate Planning
John & Carol (Essex) - After enjoying successful careers in the public sector, John and Carol were both looking forward to their retirement together. They had accumulated a significant amount of savings they wanted advice on. Married with two grown-up children, they wanted to ensure that their savings would keep pace with inflation and be there to support them in later life. Both were disappointed with the interest their money was earning on deposit, but neither had much experience of investing.

Even though retired, John was still a higher rate taxpayer, ensuring that his investments were organised in a tax efficient manner was an important factor we needed to consider.


Retirement Options
Alan & Barbara (Essex) - Alan and Barbara had both recently retired and were looking for advice on what to do with the pensions they had accumulated throughout their respective careers. Unmarried and without any dependents, their initial thoughts were to cash-in their plans and purchase an investment property.

For most people deciding what to do with their accumulated pensions is confusing and often worrying. The Chancellor’s recent proposal to allow pensions to be withdrawn in full, although very welcome, means that people now have more options to consider.

Our approach to financial advice is to first gain a detailed understanding of our clients’ personal and financial situation. Once we understand this, we can then begin the process of advising them on the most suitable course of action.


Final Salary Pension Transfer
Paul (Essex) - Paul had taken redundancy from his previous employer and had been living off his savings in recent years. At 58, and with no desire to return to work, Paul now found himself in the situation
of needing to access his deferred final salary pension to supplement his lifestyle. By his own admission Paul does not lead a healthy lifestyle and with no partner or next of kin, was concerned that his pension could be
lost if he were to die early. He had also heard about the new pension flexibility rules and liked the idea of being able to enjoy a larger income in the early years of retirement.


Defined Benefit Transfer 'Legacy'
John (London) - John had worked for one of the UK’s major financial institutions and during his employment had built up a sizeable pension within their defined benefit pension scheme. He was planning to retire in the coming months and had decided that now was the time to review his pension options. John had built up wealth outside of his pension and so could afford to take the risks associated with transferring to a personal pension.


Defined Benefit Transfer
Tony (Essex) - Tony had previously worked for one of the UK’s major banks and was a deferred member of their final salary pension scheme. Still working and in his early 60’s, Tony wanted to understand whether transferring his deferred benefits would be the right thing to do. Although he was attracted by the flexibility of having his own private scheme, his primary concern was to ensure his partner would be financially secure should anything happen to him.


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