DB Pension transfer - Cheapest advice.....?

rich744

Thrugelmir said:

rich744 said:

JJG said:

Out of interest why on Earth would you want to do this?

Marcon said:

rich744 said:

Any experiences or info would be really helpful. Thanks in advance. 

Searching this board will give you plenty of both.

Saying you want to 'manage them in a low cost tracker' is something of a contradiction in terms.

The offer represents x35 times the value of the annual pension. 

Annual pension now or as at normal retirement date? 

At Normal retirement age, which is 10yrs away.

Albermarle

rich744 said:

Thrugelmir said:

rich744 said:

JJG said:

Out of interest why on Earth would you want to do this?

Marcon said:

rich744 said:

Any experiences or info would be really helpful. Thanks in advance. 

Searching this board will give you plenty of both.

Saying you want to 'manage them in a low cost tracker' is something of a contradiction in terms.

The offer represents x35 times the value of the annual pension. 

Annual pension now or as at normal retirement date? 

At Normal retirement age, which is 10yrs away.

35X on this basis is pretty typical . 

soonretire

I am going through the final salary transfer research at the moment. £3.5k with Fidelity is a good deal because you get the advice certificate and then you can invest the pot somewhere like AJ Bell. So you dont pay the % management fee to an IFA as well if you are happy to make your own investment decisions. Fidelity charge VAT on this (if advice is negative which its likely to be) and advise you upfront the advice lead time is up to 12 weeks. By this time your CETV may be out of date to transfer so please watch this!

rich744

soonretire said:

I am going through the final salary transfer research at the moment. £3.5k with Fidelity is a good deal because you get the advice certificate and then you can invest the pot somewhere like AJ Bell. So you dont pay the % management fee to an IFA as well if you are happy to make your own investment decisions. Fidelity charge VAT on this (if advice is negative which its likely to be) and advise you upfront the advice lead time is up to 12 weeks. By this time your CETV may be out of date to transfer so please watch this!

Many thanks Soonretire, I would be interested to hear how you progress with this. 
I've made an appointment with Fidelity, and really just wish to find the most economical way to receive the certificate. 
The lead time of 12 weeks is a concern as if the CETV expires then a new one may significantly reduce the transfer value. 

soonretire

rich744 said:

soonretire said:

I am going through the final salary transfer research at the moment. £3.5k with Fidelity is a good deal because you get the advice certificate and then you can invest the pot somewhere like AJ Bell. So you dont pay the % management fee to an IFA as well if you are happy to make your own investment decisions. Fidelity charge VAT on this (if advice is negative which its likely to be) and advise you upfront the advice lead time is up to 12 weeks. By this time your CETV may be out of date to transfer so please watch this!

Many thanks Soonretire, I would be interested to hear how you progress with this. 
I've made an appointment with Fidelity, and really just wish to find the most economical way to receive the certificate. 
The lead time of 12 weeks is a concern as if the CETV expires then a new one may significantly reduce the transfer value. 

Dear Rich744, Fidelity seem to be the best deal so far for Transfer only advice. People have got this for cheaper in the past but when I have contacted the IFA they used, they wont take on new cases like mine because of the issues around their indemnity costs dont make it viable I guess. The three big issues in my case are: under 55, transfer wont be in my best advice ie. "insistent client" and I want to manage the pot myself on AJ Bell platform. 
I am waiting for a fresh CETV and then I will start the process. I am likely to use an IFA for the advice service who costs a bit more than Fidelity but will work out better value ie. take less time and also help me manage the transfer process. 
Good luck with how it goes for you