Safeguarded benefits

An individual requests benefit options or transfer form from the scheme administrator. Is the benefits value more than £30,000, if it isn't then the individual returns the completed benefits option or transfer form to the scheme administrator. The scheme administrator processes the chosen benefits option or transfer.

An individual requests benefit options or transfer form from scheme administrator. Is the benefits value more than £30,000, if it is the individual needs financial advice before they can give up safeguarded benefits. The individual takes and receives financial advice from an adviser.

The individual returns the completed benefits option or transfer form to the scheme administrator. The scheme administrator will check that appropriate advice has been given. If it hasn't then the individual will need to get more financial advice. If they have then the scheme administrator processes the chosen benefits option or transfer.