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DB Pension Transfer Statutory Advice.
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I have my CETV, the IFA I approached farmed out the job to a specialist I am not sure whether I should name them but they are in Manchester.
The specialist will charge 3% and their default SIPP provider is AJ Bell, for which you need to sign a LOA - which I will rescind once the transfer had happened.
I had an initial telephone interview with the specialists, then a further call with a technical expert who is now in contact with the trustees to arrange the transfer.
If the answer is a no (which it won't be) then they will still arrange transfer as an insistent client.
I have had nothing but professionalism at all stages with the firms.
― Daniel Crosby
Tried many routes to get a current review but most local IFAs not interested (local or national ran for the hills if you mentioned managing your own investments even with having done so for over 20 years with equivalent sized ISA and SIPP combined portfolios). I switched tack and accepted only chance was to transfer to a platform managed by the IFA and seemed to get closer with one of the larger national transfer providers but in the end thought I was too young (just under 50). An IFA there had a quick look at but they do not give any view and could not even say whether they had considered a partial transfer or a full transfer as they fear making any response might open them up to later litigation.
There was one IFA who was potentially willing to look at but wanted up front fees for the work and they were quite steep compared to previous quotes that would only have been charged for a successful transfer. I can see why from their perspective as no matter how high the transfer value the official advise seems to always point back to no but given I would have had to pay out of own post tax savings rather than the pre-tax pension it made the difference even higher. I would also then have to transfer with them and pay their ongoing fees as well.
Good luck finding anyone out there who will still do a transfer and let us know if you do!