Oaklands Details

0121 355 4455
info@oaklandswealth.com
12A Duke Street
Sutton Coldfield
West Midlands
B72 1RJ

Oaklands Wealth Management Ltd

To answer this question you need to consider if you are looking to transfer from one Defined Benefit (DB) or Final Salary scheme from a previous employment to another DB scheme.

Or

Are you looking to transfer a pension from one Money Purchase style scheme to another (also known as a Direct Contributon or DC scheme).

Defined Benefit (DB) or Final Salary Pension

In reality, this instance would now be quite rare as there are so few active DB schemes. Any DB schemes still open would most likely refuse this sort of transfer as this is transferring the liability.

Money Purchase (Direct Contribution) Pensions

In this case you could transfer a pension from one pension provider used by your old company to another. You can approach your current scheme and obtain transfer paperwork and at the same time obtain the paperwork from the new pension provider you wish to transfer to.

The new company you are transferring to will need you to select the funds you wish to invest into. Before doing so you’ll need to have your attitude to risk measured using a risk profiling tool.

Attitude to Risk is how you think about money and how you may feel when if you see your fund decrease in value if stock markets go down. How you would feel about volatility when you see the value of your pension fluctuate in the short term?

There are lots of different pension providers around, and you need to be sure to choose which one will be the most suitable to give you all the flexibility and freedom you need when you want to start taking your pension.

There are over 3000 funds to choose from to invest your pension fund into.

Not all funds perform in the same way and the key to achieving the best possible return is to have a mixed or diversified set of funds. It also worth bearing in mind that the returns of the funds need to be reviewed to ensure the best possible funds are selected.

Some analysis will be required to look at the charges in the old company compared to the new company. It is worth bearing in mind cheaper pensions are unlikely to offer full flexibility when you come to take your pension and tax-free cash when you retire. There is a reason why some pension providers are more expensive than others.

Seeking Independent Financial Advice can help navigate you through which pensions are worth paying for and in your best interests.

Moving from one employer to another

 

For many people their work life will involve changing employers often. It may be possible to move a money purchase pension from one company to another. The employer will have employed the services of an adviser and you can approach them to assist with this.

Before you go further – consider this

Pension transfers are one of the most complex areas of financial advice, with so many aspects to consider. Whichever type of pension you are thinking of transferring you should take Independent Financial Advice before proceeding any further.

Look for a company who are expert in this field and which has pension specialists with the appropriate experience to avoid the pitfalls and make the most of the opportunities in combining pensions for you.

Interested in finding out more?

Seeking a second opinion on your financial future costs you nothing.

Simply call our friendly team on 0121 355 4455 or drop us an email to appointments@oaklandswealth.com to arrange a confidential chat.

Oaklands Wealth Management, founded by Helen Blackburn in 2004 advises clients around the Midlands on retirement planning, pensions & investments.

Her firm holds British Standard BS 8577 for client service & investment process.

Minimum investment is £500,000 (£650,000 for pension transfers).

IMAGINE YOUR PENSION & SAVINGS 100% UNDER CONTROL…
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OUR INDEPENDENT FINANCIAL ADVISORS

Click to view profileHelen Blackburn IFA Pension Transfer Specialist
Click to view profileNick Hampton Investment Advisor

THINKING OF MOVING FROM YOUR EXISTING ADVISOR?

It’s easy to move on from another advisor.
We’ll handle everything.

All that’s needed is for you to sign some letters of authorisation and we’ll do the rest.

None of your investments will be switched into new funds until you’ve agreed with our recommendations and you’re fully happy with any changes we propose.

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7 KEY FEATURES OF THE OAKLANDS WEALTH MANAGEMENT SERVICE

British Standard BS 8577 Awarded Service

12 Month Money Back Service Guarantee

Lifetime Cashflow Planning

Risk Adjusted Personal Investment Portfolio

ISO 222222 Certified Financial Advisors

Monthly Fund Analysis

2 Investment Portfolio Reviews Per Year

A WORD FROM OUR CLIENTS...

“I had a number of separate pension pots which I’d built up over my career and I visited Oaklands Wealth for advice on consolidating them. The result has been an investment into a single personal pension which is producing far better returns than I had previously had with the separate pensions. All services and advice from Oaklands have been excellent.”

Colin Sarson

A WORD FROM OUR CLIENTS...

“I have been using Oaklands’ services since 2007, following my changed financial circumstances from divorce. Helen’s advice and handling of my investment portfolio has enabled me to become more relaxed about my financial situation and to not worry as much as I did in the early days, when handling finances was new to me.”

Lynne Turner

A FRIEND FOR YOUR FINANCIAL JOURNEY...

THIS IS NOT A DIY SERVICE – WE TAKE FULL RESPONSIBILITY FOR SETTING UP YOUR PENSIONS AND SAVINGS. FOR LIFE.

No half measures. We don’t set it up then leave you all at sea. We manage your investments ongoing and hold ourselves accountable for steering you through your financial journey.

This phrase came from a client who said that’s exactly what we felt like to him, he said “you are like a friend or good neighbour who’s always got my best interests at heart.”

Whatever the reason you come to us we care. We really care. Like it’s our own money.

Tidying up bit and bobs of pensions and putting them neatly in a pot you have full control over.

Maybe transferring a final salary pension if your objectives are better met with your own pension.

Making sure you get all the tax efficiencies legally available to you to enhance your money.

Pointing the microscope on 3,000+ funds and finding the best ones to secure your retirement.

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