GC QROPS can help with your public sector final salary pension scheme via our Financial Conduct Authority (FCA) colleagues in the UK.  Our colleagues will provide you with a free assessment on your existing plans.

How does a Public Sector Final Salary Pension Scheme work?

A public sector final salary pension scheme are a type of defined benefit pension scheme that are offered by employers. The benefits you receive at retirement are based on your earnings and your length of membership in the scheme.

Many public sector final salary pension schemes have either been closed to new members or to all members over recent years, although they are still offered by some, mainly larger, employers.

Unlike other pension arrangements, the amount you will get at retirement is guaranteed.

How GC QROPS Can Help

Here at GC QROPS, our FCA colleagues in the UK can analyse your public sector final salary pension scheme, they will carry out a detailed analysis of your public sector and final salary pension scheme and offer sound pension advice including the option of transferring to a personal pension arrangement.  Our FCA colleagues will also provide options available to you, as well as the potential risks of any course of action, before agreeing a proposal to best suit your individual needs.

In some cases you may be likely to be worse off if you transfer out of a public sector final salary pension scheme.  This is because the guarantees offered by your public sector final salary pension scheme are extremely valuable.  However, some individuals find that transferring to a bespoke personal pension arrangement. (i.e. Qualifying Recognised Overseas Pension Schemes (QROPS) if you are living or planning to move abroad) is more suitable for their individual situation.

If you think that retaining your public sector final salary pension scheme may not be right for you, then contact us if any of the below apply to you.

• You want control over how your pension assets are invested and how and when the benefits can be paid.
• You want to increase your tax free lump sum at retirement.
• You are single, divorced or cohabiting.
• You are in poor health with a reduced life expectancy.
• You own a business and are looking to purchase premises.
• Your accrued pension is valued above £1.5 million.

Free Assessment with our Financial Experts

Take advantage of our free assessment on your existing plans and get all your questions answered by our financial experts – call us on +34 698 243 745 or Contact Us to arrange your meeting.

GC QROPS has been successfully assisting UK expats in Spain with UK pension transfers for 9 years since 2006.

We are completely independent, and can advise on a wide variety of QROPS pension schemes – we are not tied to any single provider, which means that we will recommend the scheme which meets your exact requirements and needs.