Pre Retirement Review

A 'one-off' pre-retirement review of current/existing pensions plans:  Finding the good, the bad and the ugly in your pension portfolio and formulating a structured plan for your retirement.  This may be 6 months, 1,2, 4, 5 or 10 years ahead of your planned retirement but the need to do so and have projected pension income, other income, expenses forecasts and cash flow modelling into retirement to normal life expectancy and beyond is a must.

We will conduct independent, unbiased, in depth research, advice and analysis of your current pensions and investments portfolio to include a full review of premiums you pay/paid, the charges, investment returns, values, the funds you are invested in and all their available funds to you with our analysis of retirement options and recommendations for fund switches, retention or transfer paying particular attention to your attitude towards risk and the current economic climate.  We will arrange and handle any/all fund switch instructions.  This will not include new named pension companies or retirement annuity products or flexible pension drawdown products but a review of your options both with existing schemes and new schemes as well as suggested options for your retirement i.e.  a pre-retirement planning exercise and cash flow modelling into retirement where appropriate for say “flexible pension drawdown”, lifetime allowance calculations/protection, uncrystallised fund lump sums, guaranteed annuity rates etc.  It will include research and a full written suitability report on any suggested portfolio changes and funds recommendations.

If Applicable:  Lifetime Allowance and/or Annual Allowance and/or Carry Forward Calculations (where appropriate for High Earners and/or Larger Accumulated Pension Funds).  To look at your past, present and anticipated employer/employee pension contributions/benefits and values with the basic principle of dealing with one or more of the following technical pension issues:

  • Lifetime Allowance Issues: works/advice/calculation and registration for Fixed or Individual Lifetime Allowance Protection (if available). 
  • Annual Allowance Issues: Maximising pension contributions/minimising tax penalties now for rules for higher earners/high pension values.
  • Carry Forward Calculations: Input periods and changes, calculations for maximising pension contribution, carry forward calculations etc.  to facilitate decisions on the preferred action for any pension/dividend/income planning before any final decision is made regarding increase/decrease contributions/resign from scheme/adjust for tapered annual allowance.

The fee includes:

  • Named investment fund sector and specific investment fund recommendations in line with your attitude towards risk.
  • We will arrange and handle any/all fund switch instructions.
  • CANCEL HIDDEN COMMISSIONS: To make you receive the lowest ongoing fund management/product services fees and charges from pensions and investment companies we will also, where applicable, cancel any hidden 'legacy' commissions or regular trail fees paid to previous advisers.  Over a period of time, this may save you hundreds/thousands in additional charges that would have been deducted from your funds and paid to any prior adviser meaning more money stays in your funds.
  • We do not handle client investment money and will only accept money payable for our agreed advice fee.
  • VAT free as majority of works are for intermediation on regulated products.
  • This initial review is a 'one off' review and not part of our ongoing Money MOT Review Service.  Any ongoing Silver, Gold or Platinum MOT Review Service you select (if any) will only commence with your authority after any initial review is completed.

NOTE: This task does not include works to transfer policies to another company or to assist in any encashment or partial encashment or arranging retirement 'products'.  If as a result of this review, the advice is to transfer one pension to another pension scheme this will involve ADDITIONAL works and given the works already completed in this review, we will discount, in proportion, part of the fee paid for this service against any new/additional pension transfer work. 

Defined Benefit:  If you have defined benefit/final or career avarege salary schemes or other 'safeguarded rights' or guarantees, they can be included in this pre-retirement review but will not include any regulatory required 'Transfer Value Analysis Scheme' TVAS report, as we have suspended advising on 'opting out' i.e., transferring away and giving up guaranteed, defined benefit pension schemes.

Fees are made up of two parts to make up the total fee:

  1. Fixed Fee Element - this is a fixed, flat fee per review.  There are core elements that we do for all reviews such as ' factfinding' i.e.  leaning about you, you financial position, your requirements, your objectives, your financial knowledge and experience and your attitude towards investment risk and tolerance towards investments losses.  Whether you need  5 X pensions reveiwing or 1, the same 'timed core work' and analysis is required.  Up to 25% discounts apply when selecting Non Face to Face/Remote services and/or Paid Upfront.
  2. Policy Numbers Element – this is a 'one off' fee based upon the number of pension plans you need us to review.It is representative of the work that we do for you.  E.g.  If you need 5 pensions reviewing, this is 5 X the work of reveiwing just 1 X pension plan, hence a proportionate charge for this.
  3. These are 'ONE OFF' fees.  There is NO ONGOING % adviser charge paid to us, unlike many other advisers who take an ongoing % each year meaning more of your investment and growth stays in your fund.

Pricing / Purchase Options

1. Non Face to Face Paid Upfront
25% Discount
Part 1 : Fixed Fee (Upfront) - £1,270.50
Part 2 : Fee per Plan (Upfront) - £363.00
2. Non Face to Face Paid On Completion
15% Discount
Part 1 : Fixed Fee (Completion) - £1,439.90
Part 2 : Fee per Plan (Completion) - £411.40
3. Face to Face Paid Upfront
10% Discount
Part 1 : Fixed Fee (Upfront) - £1,524.60
Part 2 : Fee per Plan (Upfront) - £435.60
4. Face to Face Paid On Completion
Standard Fee
Part 1 : Fixed Fee (Completion) - £1,694.00
Part 2 : Fee per Plan (Completion) - £484.00

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