Pension Fund Transfers

If you currently have built up a sizeable fund you may wish to consider transferring to a 'Stakeholder' lower cost alternative.

Points to consider are:

• The current annual charge being imposed within your present fund.
• Is there an exit penalty for transferring and if so how much is charged?
• Does your current fund provide a wide selection of investment funds?
• Does your present fund provide special guarantees such as an advantageous
  annuity rate at retirement?
• If your current pension fund is a Retirement Annuity Contract 'RAC' (pre July 1988) then different rules apply- for example there is no earnings cap when calculating % of earnings contribution - you cannot retire earlier than age 60 years and the upper limit to the tax free cash amount is calculated in a different manner (3 times the amount of resultant pension payable after tax free cash is withdrawn)

This is for information purposes only and does not constitute individual advice. You must seek independent financial advice. If you have a pension fund in excess of £50,000 and wish us to review it please let us know.