Pension Transfers
Pension Switch
Why Switch your Pension?
Charges
Since April 2001 new legislation has meant that pension providers have reduced the initial charges on their schemes, however, this was not applied to schemes that were taken out prior to April 2001. So, it may be that you are still paying charges which are higher than is necessary. Of course, any exit penalties for leaving your existing scheme must be taken into account, which is why MLM Financial Limited use specialist software to analyse whether it is in your best interest to switch to a new pension provider.
Since April 2001 new legislation has meant that pension providers have reduced the initial charges on their schemes, however, this was not applied to schemes that were taken out prior to April 2001. So, it may be that you are still paying charges which are higher than is necessary. Of course, any exit penalties for leaving your existing scheme must be taken into account, which is why MLM Financial Limited use specialist software to analyse whether it is in your best interest to switch to a new pension provider.
Poor Fund Performance
Some pension funds, both with-profits and unit linked, are consistently poor performing. Switching your pension may give you better growth in the future and a superior income in the future.
At MLM Financial Limited we would, with your authority, approach your existing providers to gather precise details of where your pension is currently invested. Using this information and our analysis software we would then identify whether we may have a more appropriate or better performing fund for your pension to switch to.
Consolidate Your Pensions
People can change jobs often these days. It may be that you have previously contributed to a personal pension as well. As result you may have stopped and started a whole string of pensions. This can leave you with many pots of money that are not regularly reviewed, some of which may be with providers who are making charges which are greater than necessary.
MLM Financial, with your authority, can contact all of your existing pension providers to gather the precise details of your existing pensions. We will then use our analysis software to establish whether it would be in your interests, to consolidate your existing pensions into one of the pension products we have available.
Divorce Pension Transfer
The importance of pensions is now increasing recognised when discussing and agreeing divorce settlements. This applies to both personal pensions and occupational pensions.
If, through the court, it has been decided that pension sharing should take place, MLM Financial Limited have advisers who can help with the transfer of pension funds once a divorce settlement has been reached. With your authority, we can obtain valuations and transfer values, from the appropriate pension providers. Then, using our analysis software, guide you to the most appropriate of our pension products for you.
All our advisors at MLM are trained to the highest standard possible to ensure they are able to find the best deal for your financial circumstances.
The information on this website is for the use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it.
MLM Financial Ltd are appointed representatives of Openwork Limited who are authorised and regulated by the Financial Services Authority
Openwork Limited offers insurance and investment advice on products from a limited number of product providers and advice on mortgages representative of the whole market.
