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Post Info TOPIC: Why do I need to pay for advice


Newbie

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Why do I need to pay for advice
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My scheme have told me that I need to pay for financial advice if I want to get my hands on my pension - I don't think this is fair but where can I get advice and how much will it cost?



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Billy

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The Government has made a rule that anybody with 'safeguarded benefits' e.g. financial salary pension, must take financial advice

Here are some useful words from The Money Advice Service

 

"If you’re able to transfer out of your defined benefit scheme and this involves cash equivalent transfer value of £30,000 or over, you’ll be required to get regulated financial advice first. The Trustees of the scheme can’t transfer any value of £30,000 or over unless this has been signed off by a regulated financial adviser with the required specialisms."

Better Retirement can give you advice on final salary transfers



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