With strike action looming at Unilever over the axing of the final salary pension scheme, how concerned should you be if you are relying on a Unilver pension in your retirement?
No doubt you recall the time when Unilever announced plans to stop basing your pension on final salary accrual (how much you are earning at time of retirement), replacing it with CARE (career average re-valued earnings) and defined contribution benefits. Chances are you feel betrayed that the goal posts have been moved having paid into the scheme all the time you have been with the company.
Taking Industrial Action Is Understandable But Is There Anything Else You Can Do?
If you are or have been a ‘high earner’ at Unilever, whether you’re approaching retirement within the next 12 months or its fifteen years away, now is the time to take action. This can be entirely within your control and not subject to co-operation from colleagues or sympathy from stake holders.
As a high earner it’s possible that transferring out of the Unilever pension scheme could provide you with a better vehicle to support you through retirement than keeping your pension where it is. This option will not suit everyone and it’s vital you receive expert advice from a pension specialist who focuses on final salary schemes.
Navigating Through Pension Jargon
The good news is you don’t have to navigate your way through all the pension jargon yourself or rely on a financial adviser who is only familiar with selling more personal pensions.
Nicola Downs is a final salary pension specialist and has helped numerous corporate executives discover whether transferring out of their scheme is right for them. She is an expert in pension legislation and will negotiate on your behalf with pension fund trustees. Because Trentham Invest is directly authorised by the Financial Services Authority you have the reassurance the advice you receive is not only suitable for you but also complies with the law and is fully insured.
Financial Impact of Making the Right Decisions Now
In our experience, the financial impact of making the right choices now can run into hundreds of thousands of pounds of increased benefits and saved tax, not to mention security and peace of mind.
If you would like to arrange a confidential meeting with Nicola to find out whether transferring out of the Unilever scheme would be right for you please call Trentham Invest now on 01306 881999. Alternatively, call us and we will be delighted to send you a special report detailing your options with final salary pensions.