Nest requires a copy of my appoitment with Money Help adviser

dougpmorris1

I'm going to transfer my pension from Nest to another provider. Nest required a copy of my communication with an adviser/ They should email me something with the reference number.

Does somebody has this experience? Will Money helper really email something and how will it look like?
Thanks for replies.

Mark_d

You are required to take financial advice if transferring a pension over £30k.  Did Money Helper give you specific financial advice?  If so, they should be able to provide you something in writing.

MallyGirl

Mark_d said:

You are required to take financial advice if transferring a pension over £30k.  Did Money Helper give you specific financial advice?  If so, they should be able to provide you something in writing.

only required for final salary/defined benefit pensions above £30k or if the defined contribution pension has safeguarded benefits. Neither of these is likely with Nest

dunstonh

I'm going to transfer my pension from Nest to another provider. Nest required a copy of my communication with an adviser/ They should email me something with the reference number.

Do they want a copy from an adviser or moneyhelper? 
The are three things here which are different but you have put two of them in your title

1. Pensionwise  (via the moneyhelper site) is just support and not mandatory.  Providers will often ask if you have had a pensionwise appointment.   Pensionwise are not advisers.
2. Moneyhelper meeting - this is not pensionwise but an anti-fraud meeting. Again, not advisers and the focus is on avoiding scams.    If the provider requires this then it is mandatory.  It means your transfer request has been flagged as a high risk of fraud or going to non-mainstream areas potentially.
3. Adviser required - some pensions require an adviser to sign off them to say that advice has been given.    This has to be an FA or IFA.  

Does somebody has this experience? Will Money helper really email something and how will it look like?

If you can clarify what they have asked for then we will be better placed to answer.

Tommyjw

I've seen many of these Money Helper emails following your call with them (if it is indeed that, fitting point 2 above) and it's essentially just a confirmation you had the call and a reference number to confirm , which can be emailed/ passed straight onto Nest. I believe it is pretty immediate after the call has happened (e.g. it isn't days/weeks after)

Albermarle

Mark_d said:

You are required to take financial advice if transferring a pension over £30k.  Did Money Helper give you specific financial advice?  If so, they should be able to provide you something in writing.

A defined contribution pension transfer has no requirement for financial advice at all, although providers will often recommend you see a financial advisor so as to cover their backs, but it is not mandatory.