Principle 3 Understand Our Fees Charges for Pension Transfers

Published / Last Updated on 08/06/2019

We quote fees for Defined Benefit/Safeguarded Rights Advice in two stages:

  • Stage 1 is the analysis as to whether it is in your best interests and wellbeing as well as meeting your needs and objectives and is advisable for you to transfer or remain in your scheme
  • Stage 2 is the implementation of the transfer (if it is agreed that the transfer is to proceed).

Stage 1: Fixed Fee Element – Feasibility and Analysis.

To gather detailed pension scheme benefits information from existing scheme trustees.  To conduct a full, FCA (regulatory) prescribed, pension scheme and comparison analysis, where applicable:

These are known as an Appropriate Pension Transfer Analysis (APTA) and a Transfer Value Comparator (TVC).  Where we will conduct an initial review of your pension, secure all information from scheme trustees and establish the feasibility/suitability of the scheme for retention or using Pension Transfers as a solution and then advise whether it is in your interests to transfer or not. 

This will include transfer value and replacement annuity cost comparison, critical yields/growth returns needed, a scheme funding review, scheme rules, revaluation rules whilst 'frozen', increases when pension income being paid, any history of discretionary benefit improvements or not, your health, longevity, marital status, future projected income, expenses, cash flow needs and other overriding factors that may influence the decision to transfer or not. 

All documented in a full written report.  

If the final decision is to retain the pension as is then works stop at Stage 1 and concluded.  If the final decision is to transfer out to another pension scheme then we move to Stage 2.

Stage 2: % Risk Fee Element – Pension Transfer Application (if transfer proceeds). 

We conduct in depth research, advice and analysis for pension transfer to various types of pension scheme depending upon your needs, requirements and objectives.  It will include research and reports on suggested pension portfolio including pension transfer recommendations plus HMRC liaison (where applicable) and including fund sector recommendations and provider/installation and application to completion.  Including transfer application documentation and paperwork for the proposed applications, including implementation to completion and acceptance of terms. will be handled by us.  Stage 2 can be paid directly by you or from the pension fund.

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.



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