Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

DB to DC Transfers - Telegraph article

Alaric
Lemon Half
Posts: 6033
Joined: November 5th, 2016, 9:05 am
Has thanked: 20 times
Been thanked: 1399 times

Re: DB to DC Transfers - Telegraph article

#101414

Postby Alaric » December 4th, 2017, 1:47 pm

Snorvey wrote:A cautionary tale.....and eye popping fees.


The eye-popping fees are for St James Place.

With the ease these days of setting up SIPPs, ISAs or dealing accounts, it's a surprise that their expensive offerings bundling investments and fee/commission hungry advisers still retains market share.

It remains a bit odd why the transfer value should be slashed. It's not as if economic conditions or interest rates changed since the first quote.

Unless the FSA has changed its guidance, the compulsory transfer value advice is unlikely to be much use, as it doesn't or didn't consider that the reason for transfer was to access flexible drawdown. Comparisons with what you could or couldn't buy as an annuity would be largely irrelevant.

Return to “Pensions - Practical Problems”

Who is online

Users browsing this forum: Armorduck, xxd09 and 7 guests