The 3 Stage Pension Transfer Process
The 3 Stage Pension Transfer Process The aim of pensions transfer triage is to give a prospective client sufficient inf…
Read moreIs the transfer value of a pension the same as the cash value?
I am thinking here the answer to this should be yes.
In some situations, you can be quoted a transfer value and a current value.
In most circumstances, these should be the same.
If however, there are charges throughout the whole term of the pension plan, then the transfer value may be less because of a deduction of any outstanding charges at the point of transfer.
The same principle applies if there is something called a Market Value Adjustment (MVA) or Market Value Reduction (MVR). These are found on With Profits funds.
Sometimes, on With Profits funds they will award a bonus at the time of a transfer and this will have the effect of making the transfer value higher than the current value.
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).
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THIS IS NOT A DIY SERVICE – WE TAKE FULL RESPONSIBILITY FOR SETTING UP YOUR PENSIONS AND SAVINGS. FOR LIFE.
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