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Fidelity: Pensions Merger Offer
Spidernick
Posts: 3,803 Forumite
Out of the blue I've received a letter from Fidelity Personal Investing (based in Tonbridge) offering to merge all my employer pensions into one SIPP with them. They are offering a cashback dependent on the total value of the pot as well as paying any exit fees up to a limit of £500 (I assume that's the total and not per plan, but it's not entirely clear). The incentives expire after 31 August.
I won't be doing anything around this, as I don't want to be rushed into anything without talking to an IFA and I am going on holiday soon, but wondered if people thought this type of thing was a good idea or not and any pitfalls to be aware of around this (outside of having everything together, level of charges, etc.).
Any thoughts would be appreciated. Thanks.
I won't be doing anything around this, as I don't want to be rushed into anything without talking to an IFA and I am going on holiday soon, but wondered if people thought this type of thing was a good idea or not and any pitfalls to be aware of around this (outside of having everything together, level of charges, etc.).
Any thoughts would be appreciated. Thanks.
'I want to die peacefully in my sleep, like my father. Not screaming and terrified like his passengers.' (Bob Monkhouse).
Sky? Believe in better.
Note: win, draw or lose (not 'loose' - opposite of tight!)
Sky? Believe in better.
Note: win, draw or lose (not 'loose' - opposite of tight!)
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Comments
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They are offering a cashback dependent on the total value of the pot as well as paying any exit fees up to a limit of £500 (I assume that's the total and not per plan, but it's not entirely clear). The incentives expire after 31 August.
Bribes are not being banned until April 2016. So, this is probably a last gasp effort to raise assets under management before they can no longer do it.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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