Defined benefit Pension to private SIPP .. Financial Advice Declaration costs

dunstonh

why can't I find a decent I.F.A..to carry out my wishes?

Why are you linking decency to doing what you want?   A decent IFA will tell you what you need to hear.  Not what you want to hear.

What you have said you want to do is unlikely to be the best option financially.  That coupled with your tone would put a lot of advisers off from offering you their services.

Albermarle

carpenter73 said:

I want to transfer my DB pension into a low cost contribution based scheme that I have more control over ..I have an interest only mortgage, I plan to use part of my 25% tax free sum at the age of 55vto clear my mortgage and try to live in relative peace...why can't I find a decent I.F.A..to carry out my wishes?? After all it's my money ...can someone please help.????

Your DB pension was set up to provide you a regular guaranteed income in retirement and it will still do that , so you get what you signed up for and have contributed to .
Many people can only dream about having a DB pension , it's a great thing to have.
This is often overlooked in the rush to cash them in .

Brynsam

carpenter73 said:

I want to transfer my DB pension into a low cost contribution based scheme that I have more control over ..I have an interest only mortgage, I plan to use part of my 25% tax free sum at the age of 55vto clear my mortgage and try to live in relative peace...why can't I find a decent I.F.A..to carry out my wishes?? After all it's my money ...can someone please help.????

You have more control over...do you have the necessary expertise to control a large amount of cash? An IFA isn't there to 'carry out your wishes' in respect of a DB transfer; they are there to explain your options and make a recommendation. It is then up to you what you do - the ceding scheme only needs to know you have received advice, not whether you have followed it.

p00hsticks

carpenter73 said:

I want to transfer my DB pension into a low cost contribution based scheme that I have more control over ..I have an interest only mortgage, I plan to use part of my 25% tax free sum at the age of 55vto clear my mortgage and try to live in relative peace...why can't I find a decent I.F.A..to carry out my wishes?? After all it's my money ...can someone please help.????

Welcome to the forum.

Firstly, have you actually read the rest of this thread ? if not, I suggest you do so to start with.

(Normally I'd tell people to start their own thread rather than piggy back onto someone elses, but there are so many already on this topic that there probably isn't much point...)