Pension Transfers To A Personal Pensions Or Stakeholder Pension
A personal pension is one way you might choose to save for your retirement.
What is a personal pension?
A personal pension is a way of saving for your retirement. It works like this:
- You make regular payments (contributions) into your pension fund. This is the pot of money you build up while working and use when you retire, to give you an income.
- You may receive tax relief on these regular payments.
- Your employer might make payments into your pension fund.
- The fund is invested, for example in stocks and shares, with the aim of increasing the amount in it over the years before you retire
- When you retire, you have a number of options on how to take the money in your pension pot.
How Do I Know If I was Mis-Advised On My Personal/Stakeholder Pension?
- Were you persuaded to “tidy up” past pensions from a previous employer? Below are some of the reasons you may have been mis-advised on your personal pension:
- You were advised to transfer your company pension or your occupational pension into a personal pension? You may have left the employment and were told that the pension was “frozen”.
- You may have left a company which had a pension, and moved to a firm with no pension, so when you started a personal one, were persuaded to move the frozen pension.
- Most important, were you given a written financial comparison (a pension transfer analysis) to show you the percentage growth needed for your personal pension to match their occupational scheme benefits?
- Did you understand that you may be giving up guaranteed benefits in your occupational pension for a riskier pension linked to the stock market?
If any of the above apply to you, then follow the link below.
How Do I Claim?
Simply fill in our simple enquiry form or call us on 0800 130 3663 to get your claim started.