Finding a pensions TRANSFER specialist (CF24)

[Deleted User]

How do I find one? Even to deal with via email or post so does not have to be local.

The FSA website does not stipulate if the people listed have CF24 qualification - neither does unbiased.co.uk - merely that they give pensions advice.

dunstonh

CF24 is not a qualification. It is a control function (hence the CF). i.e. this person is authorised to give advice/service in the area covered by that control function.

Pension specific qualifications used to be known as G60 but is now being replaced. Which will make the unbiased.co.uk filter even more useless than it currently is.

What transaction do you have that requires CF24?

[Deleted User]

Thanks. It's not for me but a family member. They have a frozen occupational final salay pension and currently have another final salary pension and need advice about transferring.

He is finding it hard to find someone who specialises in transfer advice and has been told to ensure they have CF24?

dunstonh

That transaction requires the exam G60 (the new one hasnt come in yet). If you go back to unbiased and filter on the pension qualification bit and select G60 as the exam then you should find a list of IFAs who have the required licence to do occupational pension transfers. (leave all other exam filters blank).

[Deleted User]

Thanks. One more question? How much would an advisor charge roughly? Would they handle the transfer or not need to?

Sorry that's 3 questions.

dunstonh

Occupational pension transfers are classed as a high risk transaction and can very often end up with no transfer taking place as best left where it is. So, the end result can often seem lacking when the advice is to leave it where it is and you have paid for that.

Given the high risk nature and the usual requirement to run a TVAS which costs every time it is used, I wouldnt be surprised to see £750 being the rough amount on one with no transfer taking place but a full report being required. Maybe a little more with a transfer taking place and the paperwork being done.

EdInvestor

If it's a lot of money,so the fee is not so much of a problem, a form of consulting actuaries may be better placed to do the necessary.

[Deleted User]

What is a consulting actuary and how do I find one?

So far the fees I have been quoted are along the lines of £175 per hour which I just cannot afford. I appreciate the need for expertise and all that but I may just end up leaving things as they are.