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DB to Public Sector Alpha Transfer
Confused619
Posts: 11 Forumite
After 5 months of waiting I have finally got a quote to transfer my Defined Benefit Pension into Civil Service Alpha. I went to complete the forms this afternoon to meet the deadline and my previous employers transfer form says:
"Where necessary (i.e your transfer value is to an arrangement within the flexible benefits category) a signed statement from an independent financial advisor is required"
Can anyone confirm that I don't require this?
My understanding is this was required for DB to DC, where as my transfer is from DB to Career Average both of which are safeguarded so I don't need this?
"Where necessary (i.e your transfer value is to an arrangement within the flexible benefits category) a signed statement from an independent financial advisor is required"
Can anyone confirm that I don't require this?
My understanding is this was required for DB to DC, where as my transfer is from DB to Career Average both of which are safeguarded so I don't need this?
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Comments
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I made a similar transfer last year (USS to Alpha), and didn't require such a statement.0
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You don't. Your new pension is career average, but is still a DB scheme.0
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"Where necessary (i.e your transfer value is to an arrangement within the flexible benefits category) a signed statement from an independent financial advisor is required"
The statement is technically correct, but you are not transferring to 'an arrangement within the flexible benefits category'
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