Yet more DB transfer questions

pip895

bostonerimus wrote: »

Also an IFA is working for you. Don't treat them with kid gloves. If you don't like the service then fire them.

You could also fire them as soon as the transfer has taken place and transfer the fund across into a low cost SIPP like iWeb.

Gsea

Hi all,
Many thanks for the helpful replies.
Hi xylophone – It’s not a decision I have taken lightly and do understand the risks, however with my current health I won’t me breaking any longevity records, there is very limited options for passing my pension on after my death, the penalties are high should I wish to retire before I’m 65, there is no flexibility in how I take the pension, the current scheme is like a dark art and apart from an annual statement it’s difficult to get any information from the trustee. There is a risk that the current scheme could end up in the PPF sometime in the future.
As for transferring out, I get control, visibility, flexibility and an opportunity to pass any remaining funds on to my estate.

The use of a DFM/DWM was raised as an option if I wanted something other than a low cost unit trust. Your comprehensive replies and advise confirm my doubts and I have decided that DFM’s are not for me.

Thanks confirming the typical fees that come with that a straightforward unit trust portfolio.

I had thought about going DIY after the transfer but wondered if this would limit access to some portfolios? Having said that the fees offered by the advisor are reasonable and I might give him a year to see what value he adds before making a decision.


Many thanks all

TBC15

Any chance of some numbers?