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How Advisory Firms Can Help You with Pension Transfer Advice?



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By : Prism Xpat    4 or more times read
Submitted 2019-06-07 10:07:55
Pension transfers may not be something that you typically think about when organising finances, especially when you don’t plan on switching providers or perhaps moving abroad well before or upon retirement. However, if you have a pension through an employer or perhaps a personal provider and would like to transfer these funds to another location, you are going to need qualified pension transfer advice to ensure proper and efficient movement of your retirement money.

Pension transfers can be complex, which is why deciding to transfer your hard-earned funds is something that you should never take lightly. Seeking pension transfer advice from professionals who are knowledgeable and experienced is important if you want to know your options. Soliciting the help of a financial adviser or perhaps the services of an advisory firm before you even think about pension transfer is something you should seriously consider to make sure it is an appropriate action for your particular situation.

While you can conduct a pension transfer without seeking the aid of a financial adviser, it is highly recommended that you get pension transfer advice from a professional who specialises in these kinds of transfers. If the cash-equivalent transfer-value of a final salary pension exceeds £30 000, you must have a qualified financial adviser endorse the transfer. Just the same, a financial adviser will still be required to carry out transfer analysis regardless if you’ve already decided to push through with the transfer.

There are several situations when pension holders typically consider a pension transfer. One is when wishing to consolidate all your pension contracts into a single pension account, making it a lot easier to administer and manage. Second is when you have a personal pension plan with limited options for investment. Third is when wanting to reduce costs in maintaining your pension plans. Fourth is when your existing pension scheme is closing. Fifth is when you are moving abroad and would like to transfer your pension in your destination country, and lastly, when you are looking for more flexible pension options.
Author Resource:- This article is written by Isabel Davis on behalf of Prism Xpat. Prism Xpat is a leading International Financial Advisory and Pension Transfer Specialists based in London. They transfer UK final salary pension funds for people based in the UK, as well as people who have emigrated from the UK to live abroad (mainly Australia, New Zealand and into Europe). As a leading UK adviser to expats and emigrants Down-under and globally, they work with their clients to optimise the client’s position and minimise the hassle.
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