transfer of final salary to genwick retirement benefits scheme

Brenda01 · 13 September 2014 at 1:17PM

Sorry for my total ignorance on this subject but I am desperate for some advice. I have been approached by the above Co following a pensions review - think I was cold called on this but can't quite remember. They have been very persuasive and I started to seriously consider a transfer until I received a letter from my pension providers re: scams & tax liabilities. Does anyone know anything about this scheme administered by Deutens? I would appreciate any info you have do I can sort this out on Monday as I feel very stupid :-(. Many thanks in advance!

moneyfoolish · 13 September 2014 at 1:19PM

IMHO (and it is very humble) anybody in a final salary pension would be mad to move it to anything else.

smjxm09 · 13 September 2014 at 1:24PM

You would be a fool moving it. With a final salary pension you know what you are going to get and it is index linked.

PeacefulWaters · 13 September 2014 at 1:43PM

1. There's a specific Pensions part of the forum. You may find more expertise there.

2. If this firm approached you run a mile in the other direction.

3. If you approached them, cease the relationship.

4. If you still want to explore options around your pension talk to the trustees. Talk to your union. Talk to an IFA. Information from the first two. Advice from the latter (at a price).

Your starting position should be that you believe you have the best form of pension possible and don't see a case for changing it.

What compelling reasons do you see to make a change?