Should you wish to accept an EnhancedTransfervalue, you will transfer your benefits to a separate pension arrangement. There are a couple of steps involved in the process of accepting an EnhancedTransferValue. As a general rule you can expect a process similar to the below Pensions: Employers' offers of enhancedtransfervalues may appear very tempting on the surface, but people should be very cautious before signing on the dotted line. Read a summary of FCA thematic research onsuitability of bulk pensiontransfer advice provided by financial advisers where employers offered an enhancement to the transfervalue. One popular option is drawdown, which means yourpension pot remains invested, so it will hopefully continue to grow (bearing in mind that the value of investments can fall as well as rise). You choose to take as much or as little income from it as you like. Pension drawdown keeps your money invested while allowing you to take flexible withdrawals. You can take up to 25% as tax-free cash, with the remainder staying invested with potential for growth – though values can fall as well as rise. The money paid into a personal pension scheme is invested to build up a pot of money for retirement. You get tax relief on the eligible personal contributions you make into yourpension. Which means that income tax your normally pay to the government, goes towards yourpension instead. If you get thefull State Pension you currently get £221.20 per week, but from next week it's going up to £230.25 per week."This implies that you effectively recoup your investment in about three years, making it potentially excellent value. This guide is also available in Welsh (Cymraeg).