Pension Transfer Advice

There could be a number of very good reasons to consider transferring your pension or pensions from provider to provider, and of course there could be good reasons to keep your remaining options instead. This is an extremely important aspect of your financial security both now and into the future, so any decisions you make need to be carefully thought through.

Honest, reliable advice is a must at this stage, in order to bring you the peace of mind that comes from knowing you’ve done the right thing. The team at David Colquhoun can help you at every stage of the process, from early investigations right through to signing on the dotted line and on into the future. We’ll take time to consider your current situation, your holdings and your potential future options before imparting bespoke, dependable guidance. First and foremost, the process will begin with a friendly, no obligation chat about your needs.

If you have worked for more than one employer in the past, you’re likely to hold more than one pension. Among the reasons to transfer pension holdings are;

• One or more of the providers don’t offer the options you want
• It would be simpler to combine all your pension holdings into one pot
• You could have the chance to reduce your fees
• You may be able to get a higher income by switching providers
• You’re thinking about moving abroad and need to switch to an overseas provider

DJC Wealth Management will be able to look into all the possibilities that are open to you, and will look to advise you accordingly. Our focus is on what’s best for you and your family, and as such our advice is geared towards your needs and based on our sound understanding of both the current and future pensions markets. This is an extremely complex sector, and it’s one that often needs the attention to detail that experienced specialists are known for.

It’s too simplistic in most cases to just go ahead and make the switch, even if that sounds like the easy and sensible option. You could be liable to fees, for example, and there may be restrictions already in place. You may also lose some special features that are included in your current pension, such as guaranteed annuity rates. These and many more questions need to be taken into consideration, and that’s why you should speak to recognised and accredited pension advisors before saying yes or no.

And if you do decide to move your pension, we can help you shop around for an arrangement that ticks all the right boxes for you. Negotiating the often complex waters of the pension market is difficult on your own, but with specialist help it becomes so much easier. There is also a very good chance, of course, that we carry out a pension review and find that your current provider is still offering the best options. As always, our advice is based on an in-depth review of the market and what it has to offer, and we’re proud of the reputation that we have for transparent honesty geared purely towards the interests of our clients.

If you are currently assessing your pension options and you’d like to know more about the plus or minus points of transferring, the team at DJC Wealth Management can help. To find out more, all you have to do is get in touch via the online form on our Contact page or by calling 07449 632 927. We hope to be hearing from you in the coming days. An initial, friendly and no nonsense chat could be the starting point to finding the pension that perfectly matches your individual needs.

*Transferring out of a final salary pension is unlikely to be in the best interests of most people.