Transferring your Pension - what you need to know...
Not everyone will be happy with the way their pension is performing. Your pension is YOUR retirement nest egg - you have control over the policy and if the investment is under performing, you should act now to resolve the situation.
There are many reasons why your pension may not be performing in line with your expectations.
These can include:
- High charges relative to performance
- Fund choice not meeting your attitude to risk
- Poor fund management
- Pension not been monitored properly over the years
- Poor state of current stock-markets.
If you are not happy, for any reason, please speak to Winston Financial Planning Ltd for a no obligation discussion about your pension.
We can advise you on the best way forward and only considering moving a pension if it is in your interests to do so. DO YOU ALSO HAVE PROTECTED RIGHTS WITHIN YOUR PENSION?
If you do then new rules from 1st October 2008 ,allow you to transfer these rights into a self invested personal pension (SIPP). It is essential that you seek skilled independent financial advice before making any decisions as a SIPP should generally only be considered for sophisticated investors who would benefit from and utilise the options offered by a SIPP as opposed to clients whose needs may be better served by a mainstream product such as a Stakeholder of Personal Pension Plan with lower charges.
