Options For Transferring Your Defined Benefit Pension
The process of leaving a UK pension scheme before reaching the normal pension age is a complex and significant financial decision. There are various pathways and considerations, each with its own set of rules and potential outcomes. Let’s explore these options in detail, providing clarity on each path and its implications.
When Should You Combine Your Pension
Combining your pensions is a common consideration for many individuals, especially as they approach retirement age. With multiple pensions from different employers or pension schemes, managing your finances can become complex. In this blog post, we will discuss the key factors to consider when deciding if combining your pensions is the right choice for you.
Pension Transfer Delays
Delays in the pension transfer process are leaving financial advisers with frustrated clients. While the Pension Transfer Protocol was introduced to improve customer experience and ensure that all transfers are carried out in a timely manner, some advisers are still experiencing long wait times. Here, we explore some of the reasons behind these delays and discuss the process.
Why Should You Consider Transferring Your Defined Contribution Pension?
The main reasons for transferring a money purchase or defined contribution pension are as follows:
• Drawdown Options
• Currency
• Investment Selection
Other reasons can include:
• Receiving advice throughout retirement
• Consolidation of all pension ports
How You Can Get Your Underperforming SIPP Or QROPS Back On Track
Have you previously transferred a UK pension to either a QROPS or SIPP with an offshore adviser and have seen poor performance or are unhappy with the service you are receiving?
