What qualifications - IFA pensions expert?

icecoolbabe · 3 February 2004 at 5:57PM

If someone wanted to see an IFA specifically for pensions advice, and forecasting advice on existing pensions - what qualifications should the IFA have to ensure expert knowledge of this difficult and boring subject?

payless · 3 February 2004 at 6:09PM

Its a called a G60 exam, part of the AFPC

Pal · 3 February 2004 at 7:08PM

Boring!!!!!!? >:(

payless · 3 February 2004 at 7:13PM

Yes boring, but only slightly more boring than mortgages

payless · 3 February 2004 at 7:14PM

Although just because they have G60 does not mean they actually know what they are talking about.

If want advice advice on existing pensions you may find paying a fee produces more impartial advice.

icecoolbabe · 3 February 2004 at 9:06PM

Fee paying is probably what I would need as I already have a final salary pension on the go.

I just need a pensions expert to track down my forces pension and see if it's worth transferring it in to my existing pension or leaving it where it is.

The last time I spoke to an IFA was some time ago about something else and I seem to recall him saying I would need an expert with certain qualifications if I was to go down this route of transferring etc..

Watching the programme on ITV last night on pensions (Trevor McDonald) sort of made me think of this again.

Pal · 4 February 2004 at 12:12AM

I don't think that Trevor Mcdonald has passed the G60 exam.

Instead of paying an adviser, get a pension figure and a transfer value for your forces pension, the send it to your current provider and ask them if they will accept the transfer, and if so give you a quote.

You might find the two quotes are directly comparable. If not, at least you have done some of the work for the adviser and saved some fees.

icecoolbabe · 4 February 2004 at 6:05PM

Thanks.

ThereHeIs · 10 September 2004 at 11:14PM

If your fund is of any importance you really should consult an IFA. There is no way that the projections will be intelligible by a lay person and there is far more to pension transfers than just final figures. For example:
* Death benefits on both schemes
* Funding status of existing scheme (unlikely to be relevant for forces pension)
* Transferring can occasionally RESTRICT the benefits you take (e.g. Post 97 benefits become protected rights)

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What qualifications - IFA pensions expert?

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