Change IFA or just do without one?

gadgetmind

bigadaj wrote: »

I think you would be a difficult client.

Whereas the likes of you and I would be a breath of fresh air and the wind beneath their wings?

bigadaj

gadgetmind wrote: »

Whereas the likes of you and I would be a breath of fresh air and the wind beneath their wings?

We'll I think we'd be rational at least, if begrudging those ifa charges.

xylophone

It doesn't include Additional State Pension (which increases every year), and I have a pension forecast for him from 2011.

If he will be in single tier, then (from the link)

"I have contributions in the current scheme. How will my single-tier
pension be calculated?
• Under the Government’s proposals, National Insurance contributions and credits awarded before the new single-tier system starts will be recognised.

• When single tier starts we will look at your National Insurance record and work out its value under the single-tier rules. At the same time we will work out what you may have got under the present state pension rules. For both valuations we will make a deduction to take into account any periods when you were contracted out of the additional State Pension. Also the minimum qualifying year requirement
will apply.
• The higher of these two amounts will then become your single-tier foundation
amount. You could be in three positions: your foundation amount could be equal
to, more than or less than the full single-tier pension. Please read on for more "

He might like to apply for a new forecast later this year?


With regard to deferring your own state pension after having started to take it see https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/299286/dwp024-apr-14.pdf page 7

"If you are already getting your State Pension, you can
choose to stop getting it for a while to build up extra
State Pension or a lump sum."

atush

bigadaj wrote: »

No problem, but your state pension is a factor in your overall financial make up.

I was being surprisingly generous in the relatively uninformed quote, you've dismissed all comment so would be best following your own course of action, I would advise you using an ifa but I think you would be a difficult client.

I agree, and basing long term decisions on other people LEs which might not relate to yours (we can't say as we dont know what they died of or their lifestyles were like) is not always wise. That that the fact you are drawing your SP means you are unlikely to suffer the same.