Many of us have accumulated a number of pension plans during our working career. As covered in a previous blog 23% of us are estimated to have lost track of at least one plan.
Consolidation is fundamentally a good idea. If it is something you have been thinking about a recent production of HLTV (Hargeaves Lansdown) is an excellent starting point. This 15 minute discussion worth watching:
If you are in the approx 25% of people who are competent and confident enough to make their own investment decisions online, without getting it wrong, just download the guide and application form and go for it!! If you are in the approx 50% who would like online valuations, low costs, etc. but don’t quite have the confidence to go it alone that is where “The Online Financial Support Programme” from The Retirement Team may be just what you need. Email me with “pension consolidation” in the subject line for the full lowdown.
If you have a really complicated pension situation you may need to use a regulated pension specialist but be prepared to pay a fee of up to 3% for the initial advice and 1% pa for ongoing advice. We can find a good adviser for you just email me with “pension specialist” in the header.
What is for sure is that doing nothing is not a good idea!
This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122