Considering transferring your pension pot?
Since the Pensions Freedom Act came into force in the UK in April 2015 there has been a huge outflow of money from defined benefit pension schemes and personal pensions in the UK. Many people have taken advantage of the new flexibilities by having control of their own pension pots. Transfer Values of some defined benefit schemes have equated to 30 or even 40 times the income value of the pension income which for many people is a compelling reason to transfer their pension pot but this should not be your sole consideration.
Due to recent changes in legislation, pension schemes are obliged to ensure that individuals are not transferring their pots to unauthorised schemes, and are checking that the advice given regarding the pension transfer is from a qualified Financial Adviser.
Blacktower has a dedicated pension administration team which specialises in dealing with UK Pension companies, creating an efficient process for you, the pension holder, should you wish to look the options available.
If you are interested to review your options, we can do all the hard work for you.
It may not be prudent to wait until you are ready to retire to find out what your options are. There are many cases where pension pots built up in the UK years ago now sit dormant invested in old funds.
Reviewing your pension pot during the early years on a regular basis can make a huge difference to the size of fund you have when you come to retire. There should be no cost to you to find out about each of your pension pots, normally a provider will allow you to apply for a transfer value one each year free of charge. They often charge for a second or subsequent application within a 12-month period.
I have been involved with pensions now for over 35 years and based on my personal experience, have seen first-hand that keeping on top of your own provision will pay you dividends in the long run.
In today’s financial climate it is essential you do everything you can to make sure your money is safe, secure and working for your future.
Should you wish to find out more, you can contact me:
The local Blacktower office address is:
120 Avenida Dr. Artero Guirao 2C. San Pedro Del Pinatar, 30740, Murcia, Spain.
Our office suite is easy to find on the main N332 through road of San Pedro del Pinatar with easy parking.
To make an appointment call, whatsapp or email me – Keith
Blacktower group of companies are licenced in the jurisdictions in which they operate. For more information, please visit our website.
This communication is based on our understanding of current legislation and practices which is subject to change and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity