CETV 2.7m to leave or not?

cfw1994

Another first time poster trolling the masses 

Blackbeard_of_Perranporth

Has Ofqual's computer plucked this number out of the cornflake box!

garmeg

Blackbeard_of_Perranporth said:

Has Ofqual's computer plucked this number out of the cornflake box!

It was personally calculated by Diane Abbott.

HectorPascal

Actually this is for real fellas. I have spoken to St James Place at length (and people like them) but can't live with their fees. Then along comes a lil' ol' pandemic and all the sums in the word suddenly don't add up anymore.
I was just hoping there might be a flash of inspiration out there to, err inspire me.

Dox

HectorPascal said:

Actually this is for real fellas. I have spoken to St James Place at length (and people like them) but can't live with their fees. Then along comes a lil' ol' pandemic and all the sums in the word suddenly don't add up anymore.
I was just hoping there might be a flash of inspiration out there to, err inspire me.

Plenty of threads on this forum about transferring if you're for real. Have browse, but you can't really expect to be taken seriously if you expect 'inspiration' on the back of two lines of text.

As for fees - what did you expect: free help with that sort of value and the massive risk they'd be taking?

Clive_Woody

westv said:

Clive_Woody said:

HectorPascal said:

It's crunch time. After 4 CETVs it' time to either take the pension or bail out of it. I really don't know what to do.

Transfer into Bitcoin and ride the wave

Def a good idea. We're all piling in. 

Send your money to me, I'll invest it for you and send you the certificates.

Joey_Soap

HectorPascal said:

Actually this is for real fellas. I have spoken to St James Place at length (and people like them) but can't live with their fees. Then along comes a lil' ol' pandemic and all the sums in the word suddenly don't add up anymore.
I was just hoping there might be a flash of inspiration out there to, err inspire me.

Whether this is for real or not - Please, whatever you do, do not put this in the hands of St James Place. Doing that would likely be the very, very worst outcome for anyone. Myself, it's highly likely I'd do absolutely nothing and enjoy life since I imagine without the headache and risks of transferring and managing such a massive pot of money, the pension for life is going to be very generous. Just enjoy it in the time you have left.

JoeCrystal

HectorPascal said:

Actually this is for real fellas. I have spoken to St James Place at length (and people like them) but can't live with their fees. Then along comes a lil' ol' pandemic and all the sums in the word suddenly don't add up anymore.
I was just hoping there might be a flash of inspiration out there to, err inspire me.

SJP is legendry for its high charges. If you are serious about this, find a few more proper IFA and see what they have to say. So just to get relevant information out of you on this, what is the accrued pension, what is the normal retirement age, the spousal benefit and the inflation-linked? The only way I would feel that £2.7 million CETV transfer is justifiable is if I had less than a year to live and I will never be able to retire on a pension in time.

bolwin1

JoeCrystal said: The only way I would feel that £2.7 million CETV transfer is justifiable is if I had less than a year to live and I will never be able to retire on a pension in time.

Bit of a sweeping statement - what if it's to buy out a £25K p.a. pension, or has a 50 times or more multiplier ?

JoeCrystal

I will still stick with the pension, to be honest.  I genuinely valued the guaranteed index-linked pension (Speaking as someone who only has DC pension pots and still feels there is an insufficient amount in them), especially if I do not know what is the situation is in 30 or 40 years. I do not want to worry about all the complexity that comes with running with such a large fund, especially with the ever-changing tax laws.  That is just my own opinion.