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A Pension Transfer

There a number of reasons to make a pension transfer, you may be retiring, moving overseas, looking to change your job or have been made redundant.  Whatever the reason, a pension transfer into another fund should be approached with caution. It is essential to check the benefits of any proposed pension fund before making a pension transfer, the financial position of both funds must be borne in mind and any new scheme should have the same rights as your current fund. A correctly placed pension fund is essential, investing in a jurisdiction with strong regulatory legislation will ensure a financially sound and stress-free retirement.

Advantages of a Pension Transfer

A pension transfer can be very beneficial if your current pension fund is underperforming; you can select a new fund with increased growth levels and lower management fee charges. Other reasons to consider a pension transfer are:

●      Greater tax efficiencies including inheritance tax planning

●      Protection of assets

●      Investment  flexibility

●      Access to global funds

●      Tailored plan to suit your needs

Pension Transfer – Seek Advice before Making a Move

When looking to make a pension transfer it is best to seek the advice of an independent consultant who will make suggestions based on your particular circumstances. As rules and regulations pertaining to a pension transfer are amended on a regular basis, the local conditions of a particular jurisdiction have to be understood before making a pension transfer, enabling you to make an informed decision.