Final Salary to SIPP transfer

Steveevo

Has anyone got any advice this process please?

I have a final salary pension with a transfer value of £240k that I would like to transfer into my existing SIPP.

My existing scheme and my SIPP provider both need a signed declaration from an IFA to say I have received advice, neither are interested in the final recommendation, just that I have sought advice.

I would be particularly happy to receive recommendations for an IFA who could help get the process started.

bolwin1

I used Origen as they were provided for free by my ex-employer when I was looking at options for one of my DB schemes (my ex-employer is trying to offload its pension liabilities).

Origen advised against the transfer, but still provided a pension advice certificate, which I believe will be the paperwork you need (i suggest you confirm this with your existing scheme & SIPP provider).

I have no idea how much they cost as I didn't have to pay.

The advice seemed fairly thorough, but I haven't got anything to compare it to - although given you seem to have made your mind up already, this might not be that relevant.

I would suggest that you do carefully consider their advice - they may come up with different ways that you can achieve what you want without moving the pension.

Steveevo

Thank you for the prompt reply.

As you say, I have pretty much made my mind up, but that is after some very long and careful deliberation, taking into account all aspects of my personal circumstances and finances.

Thanks again for your help, I will contact Origen to see if they can help me.

tacpot12

I would suggest you go into this process with an open mind. You will likely learn something you didn't know as a result of the analysis.

It might help anyone thinking of recommending an IFA to know whereabouts in the UK you are located.

xylophone

https://adviserbook.co.uk/ You would type in "confirmed independent" and "Pension Transfer" - remember that you will need a Pension Transfer Specialist.

https://www.pruadviser.co.uk/knowledge-literature/knowledge-library/pension-transfers-conversions/

https://forums.moneysavingexpert.com/discussion/6012796/deferred-gmp-only-pension-and-early-retirement&page=2&highlight= See post 31

https://forums.moneysavingexpert.com/discussion/comment/76408849#Comment_76408849 See post 93

See also post 133 here https://forums.moneysavingexpert.com/discussion/6032686/dont-use-hargreaves-lansdown&page=7