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UK final salary transfer values falling

U.K. pension deficits fell to the lowest level since the end of 2015, dropping 10 percent in June as yields on government bonds rebounded. The gap between the assets and obligations of U.K. defined-benefit pension plans dropped to June 30, 2017, according to the latest PricewaterhouseCoopers LLP’s Skyval Index. The index tracks around 6,000 defined benefit schemes in the U.K.
The quickly shrinking gap highlights the extreme sensitivity of UK defined benefit pension valuations to bond yields. Steven Dicker, chief actuary at PricewaterhouseCoopers states that this “continues to illustrate the sensitivity of this type of deficit calculation to even modest market movements. With continuing political and economic uncertainty continues, deficits calculated on this basis are likely to remain volatile.”
pensions timebomb
The extreme volatility at present demonstrates the need to get the right advice on any final salary pension transfer and exactly how clients might be able to play their pension transfer values. The fact that deficits can move by 10% in a month yet final salary pension transfer values are guaranteed for three months shows an area where value can be exploited. Indeed, if factors move in your favour during the three month guarantee period you would be better off requesting a new pension transfer value. However, if factors moved against you, you can rest assured in the knowledge that your pension transfer value is guaranteed.
It is therefore critical to understand, or have an adviser, that understands the interplay between bond yields and your UK pension transfer value and can exploit the movements in your favour should that be required.

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very stress free

Thank you Cambel for your help and guidance throughout this process in getting my pension transferred (very stress free for me). It is greatly appreciated and I would certainly recommend you and Charter Square to others who are interested in transferring their pension.

David R, New Zealand

You guys rock!

I just wanted to say a great big thank you to you and your team. You are all totally awesome. I received a cheque yesterday from the Prudential to apologise for the ‘recent inconvenience’ that I had experienced. Thank you for doing this for me. You guys rock!

Noelle B, New Zealand

professional, insightful

Charter Square were professional, insightful and a pleasure to work with. They rose to the challenge of consolidating my overseas pensions and bringing them home with minimum fuss for me and maximum effort on their part.

Jens H, New Zealand

thorough, professional and prompt

Very thorough, professional and prompt service from the team at Charter Square. Thanks for making the bewildering world of pension transfers super simple.

Jules T, New Zealand

Best party to deal with

Thank you kindly for keeping in touch with me. For now, I will not be moving my pension. I will however be keeping your details and referring back to you when I wish to pursue. You by far are the best party to deal with, no nonsense, professional and in my opinion genuine. I do sincerely thank you for your advice to date.

GE, New Zealand


Securing the freedom to use savings that are actually ours to work with has been stressful in the extreme. While I never planned on giving up there were many times when the current (UK) holder made the whole process seem well beyond my determination and ability. It’s easy to look at the 36 month history of this claim with the benefit of hindsight, but the conclusion is that employing Charter Square in the first instance would have been wise had I been able to anticipate the red-tape that appears to have been deliberately created to stall access.

CP, Auckland
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