What qualifications - IFA pensions expert?

[Deleted User]

If someone wanted to see an IFA specifically for pensions advice, and forecasting advice on existing pensions - what qualifications should the IFA have to ensure expert knowledge of this difficult and boring subject?

payless

Its a called a G60 exam, part of the AFPC

Pal

Boring!!!!!!?   >:(

payless

Yes boring, but only slightly more boring than mortgages

payless

Although just because they have G60 does not mean they actually know what they are talking about.

If want advice advice on existing pensions you may find paying a fee produces more impartial advice.

[Deleted User]

Fee paying is probably what I would need as I already have a final salary pension on the go.

I just need a pensions expert to track down my forces pension and see if it's worth transferring it in to my existing pension or leaving it where it is.

The last time I spoke to an IFA was some time ago about something else and I seem to recall him saying I would need an expert with certain qualifications if I was to go down this route of transferring etc..

Watching the programme on ITV last night on pensions (Trevor McDonald) sort of made me think of this again.

Pal

I don't think that Trevor Mcdonald has passed the G60 exam.

Instead of paying an adviser, get a pension figure and a transfer value for your forces pension, the send it to your current provider and ask them if they will accept the transfer, and if so give you a quote.

You might find the two quotes are directly comparable. If not, at least you have done some of the work for the adviser and saved some fees.

[Deleted User]

Thanks.

ThereHeIs

If your fund is of any importance you really should consult an IFA. There is no way that the projections will be intelligible by a lay person and there is far more to pension transfers than just final figures. For example:
* Death benefits on both schemes
* Funding status of existing scheme (unlikely to be relevant for forces pension)
* Transferring can occasionally RESTRICT the benefits you take (e.g. Post 97 benefits become protected rights)