--- title: "Final Salary Pension Advice and Transfers | Pensions Advice UK" url: https://pensionsadviceuk.com/defined-benefit-and-final-salary-pension-advice/ description: "Have a final salary pension? What it pays, why most people shouldn’t transfer, when advice is required by law, and how to speak to an FCA-authorised adviser." last_updated: 2026-10-08 publisher: "Pensions Advice UK (a trading name of GAP-GNX Ltd)" language: en-GB --- Advice # Final salary and defined benefit pension advice Make sure you get advice on your defined benefit pension, also known as a final salary pension. [Request advice](https://pensionsadviceuk.com/qualified-advice-request/) Free to enquire. We are an introducer, not an adviser. Important information - Introductions to FCA-authorised advisers - Free to enquire - We call back within the hour, 9am to 5pm weekdays - Details passed on only with your consent Last updated 8 October 2026 [How we write our guides](https://pensionsadviceuk.com/how-we-write-our-guides/) **Pensions Advice UK does not provide financial advice. We act solely as an introducer** and can put you in touch with an FCA-authorised adviser with permission to advise on defined benefit pensions. ## What is a final salary pension? A final salary or defined benefit pension pays a guaranteed income for life, worked out from your salary and how long you were a member. It usually rises each year, and many schemes pay a pension to your husband, wife or partner if you die first. The scheme, not you, carries the investment risk. ## Should I transfer my final salary pension? For most people, no. The FCA starts from the view that a transfer is unlikely to be in your best interests, because you give up a guaranteed income for life in exchange for a pot that can fall in value and run out. For some people, a transfer can be the right choice, and only a specialist adviser can tell you whether you are one of them. Advice is required by law over £30,000 If your final salary or other safeguarded pension is worth more than £30,000, your scheme must check that you have taken advice from an FCA-authorised adviser with the right permission before it can transfer it. ## What an adviser will look at - The income your scheme will pay, when, and how it rises - The transfer value the scheme is offering, often called a CETV - Your other pensions, savings and income in retirement - Your health, your family and who depends on you - How you would feel if a pot fell in value ## Watch out for transfer scams Be wary of anyone who contacts you out of the blue about your pension, offers a free pension review, or promises high returns or early access before age 55. Pension cold-calling is illegal in the UK. Check the FCA’s [ScamSmart](https://www.fca.org.uk/scamsmart) guidance if anything feels wrong. ## What to expect Enquiring with us is free. With your consent, we introduce you to an FCA-authorised adviser who specialises in defined benefit pensions. The first conversation is free, and the adviser firm will tell you in writing what it charges before you agree to anything. [Request advice](https://pensionsadviceuk.com/qualified-advice-request/) ## Frequently asked questions ### Do I need advice to transfer a final salary pension? Yes, if it is worth more than £30,000. Your scheme must check you have taken advice from an FCA-authorised adviser with permission to advise on pension transfers. ### Is transferring a final salary pension a good idea? For most people it is not. You would give up a guaranteed income for life. The FCA starts from the view that a transfer is unlikely to be in your best interests, but it can suit some people, and a specialist adviser can tell you whether it suits you. ### What is a CETV? A cash equivalent transfer value is the amount your scheme offers to pay to another pension if you transfer out. It is usually guaranteed for three months. ### Can I take a lump sum from a final salary pension? Most schemes let you take part of your pension as a tax-free lump sum when you start taking it, in exchange for a lower yearly income. Your scheme can tell you what it offers. ### How do I find an old final salary pension? Search for the old employer on the free government Pension Tracing Service, then contact the scheme. See our guide to [finding a pension from an old job](https://pensionsadviceuk.com/find-pension-from-old-employer/). ### Important information Pensions Advice UK is a trading name of GAP-GNX Ltd. We are not authorised by the Financial Conduct Authority and we do not provide financial, investment, pension or tax advice. We act solely as an introducer. The information on this page is general information only. It is not a personal recommendation and should not be relied upon when making decisions about your pension. Whether any course of action is right for you depends on your individual circumstances. When you make an enquiry, we may introduce you to an FCA-authorised financial adviser. Any advice, recommendation or regulated service will be provided by that authorised firm, not by Pensions Advice UK. The authorised firm will explain its services and any fees to you directly before you decide to proceed. FCA-authorised firms may have their own criteria for accepting clients, over which we have no control. The value of pensions and investments can fall as well as rise, and you may get back less than you put in. Past performance is not a guide to future returns. Transferring or combining pensions is not right for everyone and may mean giving up valuable benefits or guarantees. Free and impartial guidance about your pension options is available from the government’s MoneyHelper service, and if you are aged 50 or over from Pension Wise, at moneyhelper.org.uk. ## Speak to an FCA-authorised adviser Tell us what you need help with and we’ll introduce you to a qualified specialist. Start your enquiry 020 3778 0939 We’re an introducer, not an adviser. ## Want to talk it through? Start online, or call us. We call back within the hour between 9am and 5pm on weekdays, or the next working day. [Start your enquiry](https://pensionsadviceuk.com/qualified-advice-request/) [020 3778 0939](tel:+442037780939) [Call us](tel:+442037780939) [Enquire](https://pensionsadviceuk.com/qualified-advice-request/) --- Pensions Advice UK (a trading name of GAP-GNX Ltd) connects UK residents with FCA-authorised pension advisers and pension tracing services. It is not FCA-authorised and does not give financial or tax advice. It acts solely as an introducer to FCA-authorised firms, who provide any advice and explain any fees before you proceed. This is the text version of https://pensionsadviceuk.com/defined-benefit-and-final-salary-pension-advice/. More pages: https://pensionsadviceuk.com/llms.txt