Consolidation Service
for total peace of mind
Charles Derby Advisers all share and adhere to our company standards, training and compliance requirements and our client promise. We aim to be one of the leaders in our field and welcome feedback on our services and advisers to help us improve. Complete our Satisfaction Questionnaire »
The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.
Transferring from a final salary scheme will not be suitable for most people.
Consolidation Service
If you have several different pension/investment pots, there are potential advantages if you consolidate them into one. You:- can keep track of and manage your pension/investment savings more easily.
- may save money if you can transfer from higher-cost schemes to a lower-cost one.
- may open up a greater choice of investments if you’re consolidating your pension/investment pots into one flexible scheme.
However, when it comes to pensions there are potential downsides to watch for too:
- In general it is a bad idea to transfer out of a defined benefit pension scheme – the guaranteed retirement income they offer shields you from investment risk.
- If any of your existing pension schemes offers Guaranteed Annuity Rates, then consider the implications carefully before transferring out – if you are planning on buying an annuity with your pension pot these guarantees are valuable.
- Check whether you’ll be charged by any of your pension providers for transferring money out of their scheme.
- Your current plans may have lower charges.
- Your current plans may have guaranteed investment returns and/or maturity values that would be lost on transfer.
- Consideration should also be made of the effect of charges for advice.
Again, get financial advice before moving your pension schemes, unless you are confident that you understand the costs, benefits and risks involved.
Copyright © Charles Derby 2017. All rights reserved.
Charles Derby Financial Services Limited. Registered in England and Wales, under no. 05693185.
Registered office address - 6 Tollgate Business Park Tollgate West, Stanway, Colchester, Essex, England, CO3 8AB
Charles Derby is a trading style of Charles Derby Financial Services Limited which is an appointed representative of Intrinsic Mortgage Planning Limited and Intrinsic Financial Planning Limited, who are authorised and regulated by the Financial Conduct Authority (see the FCA register at www.fca.org.uk/register/, references 440718 and 440703).
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
Charles Derby Financial Services Limited. Registered in England and Wales, under no. 05693185.
Registered office address - 6 Tollgate Business Park Tollgate West, Stanway, Colchester, Essex, England, CO3 8AB
Charles Derby is a trading style of Charles Derby Financial Services Limited which is an appointed representative of Intrinsic Mortgage Planning Limited and Intrinsic Financial Planning Limited, who are authorised and regulated by the Financial Conduct Authority (see the FCA register at www.fca.org.uk/register/, references 440718 and 440703).
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.