Tideway db pension transfer

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Knock_Rock
Knock_Rock Posts: 9 Forumite
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in Pensions, annuities & retirement planning
Good evening/afternoon/morning fellow members of the forum.
To the point..I would like to transfer a deferred defined benefit pension.
Has anyone used tideway to do this and if so can you recommend them?
The fees are 1% of the pot value for the transfer advice.
thanks in advance.


knock.

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  • Marcon
    Marcon Posts: 10,678 Forumite
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    There is no 'pot' with a DB scheme, so I guess you mean transfer value. How much is yours?
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
  • JoeCrystal
    JoeCrystal Posts: 3,013 Forumite
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    Marcon wrote: »
    There is no 'pot' with a DB scheme, so I guess you mean transfer value. How much is yours?

    Not only the transfer value but how much is the annual pension you are expecting from your DB pension scheme, what is the normal retirement age in your scheme and is it index-linked as well? :)
  • Knock_Rock
    Knock_Rock Posts: 9 Forumite
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    Thanks all for the replies,
    sorry, i meant they charge 1% of the cetv to transfer.
    I was interested if anyone had used tideway and could recommend?
    For info- i have 3 deferred db pensions. age 57 now. scheme retirement age 65. The one i am looking to transfer has no increases once the pension is in payment. The other two increase inline with the c.p.i.
    looking to retire at 60. I am currently paying into d.c. workplace pension, s&s isa, some cash & premium bonds.
  • JoeCrystal
    JoeCrystal Posts: 3,013 Forumite
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    Knock_Rock wrote: »
    Thanks all for the replies,
    sorry, i meant they charge 1% of the cetv to transfer.
    I was interested if anyone had used tideway and could recommend?
    For info- i have 3 deferred db pensions. age 57 now. scheme retirement age 65. The one i am looking to transfer has no increases once the pension is in payment. The other two increase inline with the c.p.i.
    looking to retire at 60. I am currently paying into d.c. workplace pension, s&s isa, some cash & premium bonds.

    I can recall one poster on this forum saying they used Tideway to transfer out. If you use the search function on this forum, you ought to be able to find some reference to it. Frankly, if I were extremely fortunate to have a DB pension provision, I wouldn't even consider transferring it out, unless I got less than a year to live. :p
  • john-306
    john-306 Posts: 722 Forumite
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    I rang Tideway up early last week, they had my details and said someone would ring back, but up to now couldn't be bothered.
    1% transfer value is cheap, but it looks like they tie you in for years on a sliding scale, but couldn't find how much that would cost.
  • mcc100
    mcc100 Posts: 623 Forumite
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    edited 25 January 2020 at 11:59PM
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    john-306 wrote: »
    I rang Tideway up early last week, they had my details and said someone would ring back, but up to now couldn't be bothered.
    1% transfer value is cheap, but it looks like they tie you in for years on a sliding scale, but couldn't find how much that would cost.

    https://www.finalsalarytransfer.com/p/117/about-our-fees

    The continuing use of Tideway for advice and investment management and your pension platform is at your discretion and you will be able to change advisers or platforms after your pension transfer without further legally obligated advice and without significant cost from either Tideway or your pension provider.
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