The main reasons for transferring a money purchase or defined contribution pension are as follows:
• Drawdown Options
• Currency
• Investment Selection
Other reasons can include:
• Receiving advice throughout retirement
• Consolidation of all pension ports
Whether you are contributing to a pension or savings plan, have investible assets or are looking to invest for the first time, understanding how markets work and change is imperative.
This article will explain what metrics you should consider when forecasting growth, whether before or during retirement and why. It will also provide some insight into how you can prepare for the worst-case scenario and how to run pessimistic, realistic and optimistic outcomes for your retirement.
Have you previously transferred a UK pension to either a QROPS or SIPP with an offshore adviser and have seen poor performance or are unhappy with the service you are receiving?
Pension simplification came into effect from 6th April 2006 to rationalise the British tax system regarding pension schemes. One of the policies introduced was the lifetime allowance for all UK pensions.