Pension Funds The Best Deal - YourMoney

All of the pension advisers on the YourMoney panel are qualified experienced FCA registered advisers.

April 4, 2015

Pension Funds The Best Deal

Many who saved  diligently and invested in a pension with reputable leading UK pension providers do not get the best deal they should.   This is a simple testament of fact.

 

Why?  because many savers do not question what they are offered.  They seek no impartial advice and rely on some of the largest investment companies in the UK to do the right thing.

You can not reasonably expect any provider to tell their customer of 40 years that another provider will offer you a much better Pension and Annuities deal. The fact is that they will not.  They are under no obligation to do so.  They are obliged to offer you the best they have nothing more.

Pension Funds The Best Deal

Your pension fund provider must make it clear that you have what is referred to as an (OMO)  Open Market Option. This allows you to shop around. Many do not. I am convinced that one reason for this apathy is that after saving for many years with a provider the expectation is that a provider will do the “right thing”. After all a household name looking after loyal customers, the pensions and annuities offered will not be significantly less than a competitor or that it is not worth the bother – being a loyal saver must count for a something. WRONG!

The result of this saver inertia is that many thousands of savers lose out badly.  The newspapers and media are full of examples but what can be personal disaster for many individuals and their families keeps on happening.

Pensions and Annuities are complex,  payments can often be improved upon. Many pensions taken out years before and now coming to maturity had Guaranteed Annuity Rates (GAR). In most cases it would be a mistake to move funds that enjoy a GAR and take the OMO.

If your health is less than perfect it can have serious effect on the amount you are due. High Blood pressure, Diabetes, Heart conditions, weight, smoking even if you have your medical issues under control with no immediate concern – all can affect your payments.

The Daily Telegraph in particular have been running a campaign on this very topic of pension funds and obtaining the best deal. I have provided screen shots and links below. These links feature articles written about about the largest most reputable highly regulated pension and investment providers in the UK. Thousands of pension savers and investors are getting poor deals and will continue to get poor deals until they start taking advice!

The Your Money panel of advisers are all registered professional advisers. We will supply you with the link to the FCA register so you can check. All of our panel advisers offer a consultation at their expense. Just click on the link below and complete the short form if you would like to talk.

I can state unequivocally that in any of these cases had the individual involved gone to a qualified registered adviser they would have improved the deal they got by a considerably amount.  Now, if this is not bad enough we have the situation made even more complex with the latest pension freedoms starting in April 2015.  I have included some information and links about the dangers of Pension Liberation Sharks and other scammers here and provided links to press coverage on the considerable dangers and risks of getting it wrong.

Press Articles on Pension and Annuities Advice

I have included some links to Pension and Annuities articles from the national press and other web sites. Please click on the Article Links tab to visit read more.

(Click on Article Links Tab below for links to the featured pages above.

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