…We have been asked for help by a prospective client who is struggling to find a provider of deferred annuities. The enquirer is charged with winding up a tiny final salary scheme which has only two members left. There is a deficit; we are told “the surrender value is about £240k, and the buyout cost about £580k”. The sponsoring employer is not in any difficulty, but might be troubled if required to find £340k just for this. Please let me know if you can help.

IFA Steve Says:

Its very difficult to give advice here as this seems a very specific enquiry here and I’d need to ask some more questions before giving advice. However I believe AEGON Scottish Equitable and Skandia both operate in the section 32 market which may be what you need.

Regards, Steve

Steve Weisner Dip PFS, BSc (hons)
Independent Financial Adviser
Radcliffe & Newlands
3rd Floor,
14 Bonhill Street,
London
EC2A 4BX

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