Pensions independent financial advisors

ShowUsTheMoney

Does anyone have any experience of dealing with a independent financial advisor (or recommendations - worcs area) that specialises in pensions ? I have a work's pension, but I never look at it, moreso because I don't understand it :doh: , so i'm looking to get my act together and start planning

xylophone

With regard to the pension provided through your employer, is it Defined Benefit or Defined Contribution?

http://www.which.co.uk/money/retirement/guides/company-pensions-explained/defined-benefit-and-final-salary-pensions/

http://www.which.co.uk/money/retirement/guides/company-pensions-explained/defined-contribution-and-money-purchase-schemes/

Re Independent Financial Adviser

https://www.unbiased.co.uk/

Al.

Have you approached the Money Advice Service website, or the Pensions Advisory Service website?

ShowUsTheMoney

Only looked here at the moment. It was one of those morning wakeup 'I need to sort my pension moments' ..... Looked on here and saw you can get free 30 minute advice sessions with local IFA .

Al.

Good call. To get max benefit, work out in advance some questions, have all your paperwork to hand, and know what you want life to look like (ideally!) when you get to retire.

A good adviser won't clock watch, many won't mind allowing a little more time to drift by. Don't limit yourself to one adviser either, get a consensus of opinion.

Good luck.

xylophone

What kind of pension is your work pension? This is important - see my links above.

ShowUsTheMoney

It's a defined contribution pension.

xylophone

You are contributing enough to get the maximum employer contribution?

How old are you now and when do you become eligible for state pension?

dunstonh

Looked on here and saw you can get free 30 minute advice sessions with local IFA .

You wont get advice in 30 minutes. The initial meeting is really to see if the adviser and you can work together and its worth it. You may get some guidance if its not going to go to advice. However, if advice is needed, it will go longer than the 30 minutes.

atush

ShowUsTheMoney wrote: »

Does anyone have any experience of dealing with a independent financial advisor (or recommendations - worcs area) that specialises in pensions ? I have a work's pension, but I never look at it, moreso because I don't understand it :doh: , so i'm looking to get my act together and start planning

If you want to learn here (and elsewhere) read.

but dont ask for recommendations of actual advisers. as you will be sent towards people who might want to skim you for profits?

This is the internet? anonymous. Get with the risk here?


unbiased.co.uk for a list of IFAs in your area.

MEET WITH SEVERAL BEFORE DECIDING?

brewerdave

A lot depends on how big your DC pot is. As I found when I phoned around local IFAs last year ,unless it is more than £100k they are unlikely to want to deal with you !!