Pension Transfer - Pension Pot

Pension Transfer - Pension Pot

Our service can also advise on:

Income Drawdown

25% Tax-free lump sum – if you’re 55 years of age or older, you might be able to take a tax-free lump sum from your pension.

Investment growth – a drawdown pension allows you to keep your savings invested, meaning your money could continue to grow, unlike if you purchase an annuity.

Pension Transfers

Lower fees and charges – there can be huge differences between different pension policies and the charges they incur.

Reduced risk – as you get closer to retirement, a higher risk pension may not be suitable for your personal circumstances.

Final Salary Pensions

It’s a legal requirement to seek professional financial advice from a fully qualified adviser who is authorised by the Financial Conduct Authority (FCA), if your pension is valued over £30,000.

At Pension Works – we hold the necessary qualifications to advise on Defined Benefit (Final Salary) pensions.

Pension Consolidation

Reducing charges – your pensions may have different annual management charges, some lower than others, so it could make sense to combine your pensions into one with lower fees.

Easy to track – it’s critical to keep a close eye on your pension savings. Moving them into one pension scheme could mean you don’t lose track of your money.

 
 

Pension Transfer Couple Reviewing Paperwork

Why transfer your pension
to another provider?

There could be many benefits of transferring your pension to another provider.

Lower fees and charges – there can be large variances between pension policies and the charges they incur. Although the difference in decreasing your pension charges from 2% to 0.5% may seem small, it could deliver a huge increase to the value of your pension. The vast impact this could make, is demonstrated by our pension calculator.

Reduced risk – balancing risk and reward can be complicated. Whilst your pension could be growing quickly, it may also be in a high risk policy, meaning you could suffer from significant volatility and potential losses.

More flexibility – many older pensions lack the flexibility that people can enjoy with a newer style pension, that have been introduced since Pension Freedoms in 2015.

Easier to keep track – moving multiple pensions into a more manageable pension fund could make it easier to keep track of your finances.

 

Peace of mind

We work with all major UK pension providers allowing us to find the pension that helps you meet your retirement goals, and ensures your retirement is in experienced hands.

Pension Fees Calculator

Our free pension HealthCheck will carefully assess whether your private pension is being consumed by excessive fees or hidden charges, which could be preventing you from retiring with extra funds.

Simply provide your pension pot size and age below, to calculate how much we could help your pension grow:



The higher the charges, the longer it may take you to retire and the less you could be retiring with.