Pension Transfer Analysis Report (TVAS)

If you have a final salary pension which is worth above £30,000 then you will need a Pension Transfer Analysis (TVAS) Report. This will help you decide whether a transfer of benefits from your existing scheme to an alternative arrangement would be appropriate or not.

Frequently Asked Questions

If your Cash Equivalent Transfer Value (CETV) is below £30,000 then you don’t need a TVAS report. If it is below then you cannot transfer unless you have one.
Its to make sure that if you do transfer your pension, you will not run out of money during retirement. Transferring your final salary pension means you will lose your guaranteed benefits and you will be dependent on market performance, so the advice can only be given if you understand the risks and are happy with a variable outcome.
This is a question which has been raised for a long time, with plans to completely restructure how the report is done. Nobody ever transfers their final salary pension to buy an annuity, and especially not based on today’s rates. The process is forever changing so whatever you are recommended now may change in the future.

final salary pension

Find out the answers to more questions…

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Critical Yield

This is the calculation in the TVAS report which shows you the annual growth rate (Critical yield) required to match the benefits your existing scheme gives you to if you purchase an annuity at retirement based on today’s annuity rates.

Benefits

It will compare all the different benefits your existing scheme offers to the alternative arrangement recommended including death benefits, age, health issues, income requirements etc.

Verdict

They will either recommend you to transfer your pension or not. Its impossible to know whether its in your best interest or not unless your pension is fully analysed against what you want. Each individual scheme has different increases and transfers values so if you wanted to receive the advice you would need a transfer value within the last 90 days.

Invested a lump sum and transferred my pension with SJB Global last month. Happy so far and looking forward to seeing how the investments perform. I was really impressed with the process and explanation of complex terminology.

Barbera Louis

Having previously gotten cold feet after almost going through with the transferal of my UK private pension to a QROPS with another wealth management company who, for a number of (good) reasons I felt uneasy with, I decided to look independently for an alternative adviser and was fortunate to come across Sam Barber quite by chance. Thanks to his endless patience in answering all of my questions and his excellent support throughout the entire process (which seemed very daunting initially), I am now confident that my future pension is in the best hands. He has put my mind at rest over so many issues and my initial lack of trust in such financial institutions has fully dissipated since becoming his client. I have no hesitation in recommending Sam to anyone who is even just considering transferring a pension out of the UK. He will not talk you into anything that you are unsure about and no question is too stupid. He knows what he’s talking about, gives sound advice and is 100% reliable. There are without doubt many sharks out there – happily Sam is not one of them.

Alia Harrison

I transferred my pension 6 months ago after speaking with a number of advisers in relation to my enquiry. Having initially being overwhelmed with the ordeal, Sam made me feel at ease with the whole process. And on our first semi annual review I am very pleased with the performance and feel like I have made the right decision. I would recommend SJB global to any expat who is looking to transfer their pension.

Jade Bolton

I started the process of finding information out about how to transfer my UK pension overseas and got a bit lost with it all. After sending out a few inquiries, I decided to go with Jake as I found his advice and costs to be completely transparent. The other 2 advisers had recommended me a QROPS and Jake said I was best suited to transfer to a SIPP and sent me links to authoritative websites to back up his reasons. I would recommend Jake to anyone who is looking for transparent advice.

Salvador Iglesias

Invested a lump sum and transferred my pension with SJB Global last month. Happy so far and looking forward to seeing how the investments perform. I was really impressed with the process and explanation of complex terminology.

Barbera Louis

Having previously gotten cold feet after almost going through with the transferal of my UK private pension to a QROPS with another wealth management company who, for a number of (good) reasons I felt uneasy with, I decided to look independently for an alternative adviser and was fortunate to come across Sam Barber quite by chance. Thanks to his endless patience in answering all of my questions and his excellent support throughout the entire process (which seemed very daunting initially), I am now confident that my future pension is in the best hands. He has put my mind at rest over so many issues and my initial lack of trust in such financial institutions has fully dissipated since becoming his client. I have no hesitation in recommending Sam to anyone who is even just considering transferring a pension out of the UK. He will not talk you into anything that you are unsure about and no question is too stupid. He knows what he’s talking about, gives sound advice and is 100% reliable. There are without doubt many sharks out there – happily Sam is not one of them.

Alia Harrison

I transferred my pension 6 months ago after speaking with a number of advisers in relation to my enquiry. Having initially being overwhelmed with the ordeal, Sam made me feel at ease with the whole process. And on our first semi annual review I am very pleased with the performance and feel like I have made the right decision. I would recommend SJB global to any expat who is looking to transfer their pension.

Jade Bolton

I started the process of finding information out about how to transfer my UK pension overseas and got a bit lost with it all. After sending out a few inquiries, I decided to go with Jake as I found his advice and costs to be completely transparent. The other 2 advisers had recommended me a QROPS and Jake said I was best suited to transfer to a SIPP and sent me links to authoritative websites to back up his reasons. I would recommend Jake to anyone who is looking for transparent advice.

Salvador Iglesias

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