What should be in a DB transfer report for you?
Your report should be specific based on your pension scheme and your objectives and have:
• Advice as to whether a transfer will meet your objectives.
• It should discuss your expenditure and needs in retirement.
• Discussion about risk and your understanding of it and whether a transfer is within your acceptance of risk.
• The report should have the full costs and charges of the recommended products and the fees for the advice.
• Cashflow assists understanding of benefits or losses. Ask for a professional to assess your risk and target for retirement. Maybe, pay for a report.
• Ensure your professional is registered with the regulator in your country AND openly declares third party connections in other regulated territories AND allows you to vet them.
What should NOT be in the report and what should you AVOID? Contact us or watch our videos.
If you want to be safe and if you want to avoid losing your retirement income, our recommendation to you would be to contact a fee based adviser who is regulated in the UK to give advice on Defined Benefit and Safeguarded Benefit pension schemes.
Don’t be Nigel, and have to return to work when you thought you had retired. Take action now or take the consequences in your future retirement.
For Bond information CLICK HERE ›
FCA explains defined benefit transfer process FCA Video ›
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