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Exeter | 01404 598 168 Colyton | 01404 598 168 Exmouth | 01395 207 350
 
Sipps Pensions Exeter
 
 
 
The Case for Pension Consolidation

Many of our clients have a range of pension plans with a variety of rules and investments. Pension Consolidation is about bringing all the funds together into one simple to control plan with a coordinated investment strategy.

Many pension investors struggle to understand their statements from the insurance companies. They all provide the value of the fund and a projection of what this might buy you when you finally retire. We have found none that have said you invested £X on that date and it is now worth £Y. The annual return since you started is Z% per year.

It may be that a pension plan that was set up nearly 20 years ago may have only returned a few per cent, when taking into account the gross initial contributions. The Adviser who established the pension would have dutifully advised the client to contribute to the scheme each year, but then failed to analyse that the fund was not in real-terms growing. There are many old style pension schemes with pre-stakeholder costs that could be amalgamated into one more cost efficient and client needs focussed plan.

This type of scenario is unfortunately common; however, we have the tools to review your plan to ensure that bringing your funds together is the right thing to do.

 

There are some cases when it does not make commercial sense to consolidate your funds, for example:

  • High exit penalties
  • To close to retirement
  • Loss of guaranteed annuity rates
  • Exiting scheme is actually value for money
  • Your provider has a good range of funds and we can rebalance without transfer
  • Better tax free cash rules

These are some of the reasons why we might not do a transfer.        

Before you start the consolidation process, we will review your financial situation and your attitude towards investment risk so that your new pension plan mirrors your current feelings. We will review which pension plan is best for you from the whole of the market.

Consolidating to a SIPP

If you want to be more involved or wish to buy particular investments in your pension, for example individual equities and corporate bonds, we may be able to transfer your funds into a SIPP to offer this opportunity.

 

 
 
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Colyton Offices
The Mews, Queens Street, Colyton, Devon, EX24 6JU
Tel: 01404 598 168 
Exmouth Offices
32 Rolle Street, Exmouth,
Devon EX8 2SH
Tel: 01395 207 350
Exeter Offices
Briar House, Clyst Honiton, Exeter, Devon, EX5 2LZ
Tel: 01404 598 168
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Raymond James Investment Services Limited is a member of the London Stock Exchange and is authorised and regulated by the Financial Conduct Authority (Updated 13/09/2018). Registered in England and Wales No. 3779657. Registered office: Broadwalk House 5 Appold Street London EC2A2AG. | RAYMOND JAMES is a registered trademark of Raymond James Financial, Inc. | Legal Disclosures