West Yorkshire Pension Fund
The West Yorkshire Pension Fund (WYPF) is a major public sector pension scheme in the United Kingdom, serving local government employees in the West Yorkshire area, including cities like Leeds and Bradford. This defined benefit scheme provides its members with a retirement income based on their career average earnings rather than their final salary, which offers a stable and predictable retirement income. The WYPF is known for its strong performance and proactive management, which includes a diverse investment portfolio across various asset classes such as equities, real estate, and infrastructure. The WYPF is committed to responsible investing and incorporates environmental, social, and governance (ESG) factors into its investment decisions. This approach not only aims to achieve sustainable growth and long-term financial stability for the fund but also aligns with broader societal values. As one of the largest public pension funds in the UK, the WYPF plays a crucial role in supporting the retirement security of thousands of public sector workers in the region.
Have you transferred out of the West Yorkshire Pension Fund?
When considering a career with government or local councils, the handsome pension offering is something that attracts many people to these types of organisations. Often they are defined benefit pensions that provided individuals with a range of different benefits – this is why they are often touted as being the ‘gold standard’ for retirement pensions. This is what is provided by the West Yorkshire Pension Fund.
The pension is protected by as much as 90% by the Pension Protection Fund and costs individuals nothing to run. Some of the benefits of this particular scheme include a guaranteed income come retirement, right up until the point of death. Although they don’t allow individuals to control the pension themselves like some other pensions, they are dependable and stress free.
However, because of negligent financial advice that has been given, some people have transferred out of the West Yorkshire Pension Fund after being promised that they could make more money with a personal pension instead, whilst not being made aware of the many risks of doing so. As a result of this, many people have experienced unexpected loss and without the benefits they had before. Here we understand how important having a retirement fund is, so we want to help to see if you are entitled to compensation for the bad advice received.
To do this, call us and speak to our team of experts. They can quickly establish if you are entitled to compensation and advice on how best to proceed with this. There is no charge for this and you are not required to use our services. If you do decide to though, know that our fees are very reasonable and that you are only required to pay them once you’ve received all of your compensation and only if you are happy with our service.
