It is now more and more common due to the nature of the environment we work in and with the introduction of Auto Enrolment (workplace pensions) for people to build up numerous pensions with multiple employers. This poses an issue around what to do with these pensions once you have left an employer......?
Do you continue paying into old plans, do you transfer previous pensions to a new employers pension scheme, do you merge numerous plans into one and what are the features and benefits of any existing pensions and any alternative plan(s) being considered….?
These are all very important considerations, although often complex and time consuming to decipher and reach a point where you can see clearly what is the best route to take with any plan in maximising existing pension benefits for future planning.
Our continued knowledge and understanding around products, investments and technology advancements enables us to be able to offer unique terms and product or investment features not commonly available direct to retail clients so it can pay to take independent financial advice.
This area generally requires professional advice due to it’s nature and is where our expertise lies. Opes Financial’s pension review service helps you by generating all data into a simple and concise format, making it easy for you to see the advantages, disadvantages, costs (existing versus proposed), features & benefits, as well as your options so you are able to then make an informed choice as to the best outcome and course of action for you.
You should be aware that investments carry varying degrees of risk and as their underlying value can fall as well as rise you may not get back the full amount invested.