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Defined benefit pension transfer

DB to DC pension transfer 2026

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The document outlines considerations for financial advisers when evaluating a transfer from a Defined Benefit (DB) pension scheme to a Defined Contribution (DC) scheme. It emphasizes the importance of understanding clients' motivations for considering such transfers, the advantages of DB schemes, and the need for thorough analysis before making recommendations. The document also highlights various factors that should be assessed, including income needs, tax implications, and client circumstances, while cautioning that it is not a substitute for comprehensive compliance processes.

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Click ‘Get Form’ to open the DB to DC pension transfer document in the editor.
Begin by reviewing the 'Client Considerations' section. This will help you understand the context and importance of each component of the form.
Fill out your personal information in the designated fields, ensuring accuracy for effective communication with your adviser.
In the 'Reasons for Wishing to Transfer' section, articulate your motivations clearly. This helps advisers tailor their recommendations based on your specific needs.
Proceed to analyze each consideration listed, such as income needs and potential tax implications. Use our platform's commenting feature to add notes or questions for your adviser.
Review all entries for completeness and clarity before submitting. Utilize our platform’s tools to sign and distribute the document securely.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What are the DB pension transfer values for 2025?

Defined benefit (DB) pension transfer values rose to 141,000 at the end of June 2025, marking the first month-end increase in XPS Groups Transfer Value Index since the start of the year, its results have revealed.

Why cant I transfer my defined benefit pension?

There are certain safeguards in place for these schemes. If youre still working for the employer of the pension scheme, you wont normally be able to transfer your pension. You might also not be able if have less than one year before you would normally be entitled to begin receiving an income from the pension.

Can you transfer a DB pension into a DC pension?

If youre in a defined benefit pension (final salary scheme), you can potentially transfer out of it and into a defined contribution pension (money purchase pension) if you havent started taking an income from it.

Whats the difference between a DB pension and a DC pension?

The key difference is: with a defined benefit pension, the amount you get is usually based on your salary and how long youve been part of the pension scheme. with a defined contribution pension, the amount you get is based on how much you and your employer invest in the pension and how your investments perform.

What is the difference between a DC plan and a DB plan?

You can usually check your pension paperwork, payslips, or annual pension statement. DB schemes will state a guaranteed retirement income, while DC schemes show a pot value and projected growth. If in doubt, ask your employer or pension provider. What happens to my pension if my employer goes out of business?

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Which is better DC or DB pension?

Although the pension landscape is shifting away from defined benefit plans to defined contribution plans, both are great tools to help you build your retirement savings. While DB plans offer more predicable payments, DC plans provide greater flexibility, especially if you change jobs.

What is DC and DB pension?

Theres the Retirement Income Builder, the defined benefit (DB) part, which gives you a guaranteed income in retirement. Then theres the Investment Builder, the defined contribution (DC) part, which gives you a flexible savings pot for your future.