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Defined Benefit / Final Salary Pension
Comments
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candie01 said:My transfer value dropped 30k in six months... from £350k to £327k, according to your posts.But at the same time your predicted pension rose 20% from £7k pa to £8.5k pa.N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill Coop member.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.0 -
Who would I direct a complaint to? When I first spoke to an IFA they said they wouldn't recommend a transfer as they thought transfer values would continue to rise, so I left it. When I came back to it the transfer value had fallen £5500. Let me guess, I don't have a case right?If you received regulated advice then you can complain about any aspect of that advice. I suspect it is highly unlikely you have regulated advice that says that. So, no, you don't have a case. Although if the adviser gave that as a reason without any caveats in a written report to you then you may have a case.
I personally think CETVs are more likely to fall as gilt yields increase. However, they are not the only influences. So, nobody can predict.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Standard Life says phone them to open their stakeholder pension. I just did that and they told me that they would accept a transfer against advice from a defined benefit scheme provided an adviser was doing it. They were explicit that it didn't matter what the advice was, just that an adviser did the transfer.6
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dunstonh said:Who would I direct a complaint to? When I first spoke to an IFA they said they wouldn't recommend a transfer as they thought transfer values would continue to rise, so I left it. When I came back to it the transfer value had fallen £5500. Let me guess, I don't have a case right?If you received regulated advice then you can complain about any aspect of that advice. I suspect it is highly unlikely you have regulated advice that says that. So, no, you don't have a case. Although if the adviser gave that as a reason without any caveats in a written report to you then you may have a case.
I personally think CETVs are more likely to fall as gilt yields increase. However, they are not the only influences. So, nobody can predict.
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jamesd said:Standard Life says phone them to open their stakeholder pension. I just did that and they told me that they would accept a transfer against advice from a defined benefit scheme provided an adviser was doing it. They were explicit that it didn't matter what the advice was, just that an adviser did the transfer.1
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Prism said:
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Dale72 said:Prism said:0
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Prism said:
I'm not sure it is a little bit of work. They need to do a complete suitability report for the new insistent client platform which is likely different from the previous report and then perform the transfer. They are then liable for that work for the lifetime of that client.
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jamesd said:Standard Life says phone them to open their stakeholder pension. I just did that and they told me that they would accept a transfer against advice from a defined benefit scheme provided an adviser was doing it. They were explicit that it didn't matter what the advice was, just that an adviser did the transfer.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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