Advice you can trust
Grove Pension Solutions
We are specialists in Defined Benefit Pension Transfer advice, directly authorised and regulated by the Financial Conduct Authority (Firm Reference Number 465051).
Since 2007 we have been helping people interested in transferring their old company pension schemes into an arrangement that gives them far greater flexibility and control.
We also provide a Defined Benefit Pension Transfers for introducing IFA’s and their clients.
You will have a dedicated liaison team to talk to throughout the pension transfer process.
You will have a dedicated administration team ensuring the smooth progression of your case.
Defined Benefit Pension Transfer
There are many reasons why you might be interested in transferring your old company defined benefit pension.
Most of them come down to you wanting more flexibility and control about how and when you retire. Or maybe you just need to supplement your income now.
DB Pension Transfers for IFAs
The DB Pension Transfer Service is designed for Professional Independent Financial Advisors (IFAs).
Your client, our risk. We take all the compliance risk, whilst you maintain your clients and ongoing servicing rights.
This service only applies to pensions in the UK. Defined benefit pension schemes contain valuable guarantees that would be lost in the event of a transfer to a new arrangement. Taking benefits early will almost certainly reduce your pension income in retirement and is only suitable for a limited number of people and circumstances. This should not be seen as an easy option for raising cash.
If you release all your money from your pension early you will not have anything left to provide you with income in retirement. Usually 25% of your pension can be released tax-free, the balance is taxed at your marginal rate at the time of release, this marginal tax rate could change in the future.
What our clients say
Grove Pension Solutions assisted in moving my company pension to a personal pension, which will allow me to retire 7 years earlier than planned.
Since the FCA have made this option very difficult, Grove made the process very swift and smooth, with true professionalism throughout the process. The communication was excellent at all times, and there was always someone to answer a question if it arose.
I would highly recommend Grove Pension Solutions for your personal pension requirements.
Grove managed the transfer of my pension swiftly and kept me in touch with the process at all times. On occasions when I telephoned with questions they were patient, and regardless of who I spoke to, the staff were knowledgeable, friendly and reassuring. Grove Pension Solutions went above and beyond to complete my transfer and I cannot thank them enough.
Nothing is too much trouble, everything was explained in plain English and I was asked several times if I wanted to go through with any information again or any questions , all staff were professional and completely “knew their stuff” they returned calls when promised such a pleasure to do business with a very big thank you
In the final stages of my transfer, throughout the process the service has been very professional, regular updates by phone and email, the advisors are very friendly and explain the process in an easy to understand way. Have recommended to two other people already, wouldn't have any hesitation to use Grove Pension Solutions again, 10/10 thank you.
Following the implementation of our new fee structure, we can confirm that we now have a maximum fee ‘cap’. In short, our maximum fee for DB transfer advice is now £13,000, applying to any client with a transfer value of greater than £857,000
Whilst the decision to transfer or not will always be individual and dependant on client circumstances, it is very useful for any IFA to have an understanding of what is generally happening with transfer values in the broader sense, particularly if you
The FT Adviser have recently published this article written by our CEO Dash Ormond. Why are so many firms abandoning the defined benefit transfer market, LEBC being the most recent? To understand, you need to go back to when it all started. In 2015, then-chancellor...