FAQs about Final Salary Pension Transfers

What experience does Accudo Investments have with final salary pension transfers?

Claire Novakovic is our dedicated in-house pension transfer specialist and is also the co-founder of the company. She has more than a decade’s experience in the field of pension consulting and is renowned as one the leading industry authorities. Along with her credentials as a Chartered Financial Advisor with the CII (CFA), Claire is a qualified Pension Transfer Specialist and holds the relevant FCA permissions to conduct all business pertaining to pension transfers.

How do you manage the conflict of interest that arises due to financial advisors making more money over time if a client proceeds with a transfer than if they didn’t?

Unlike a lot of other companies that offer financial advice, Accudo Investments does not have a policy of contingent charging. We have a set fee for our Pension Transfer Report of £1,750 plus 2% (capped at £10,000) whether or not the final recommendation is to transfer or not. We’re committed to offering thorough and professional advice suited to your individual situation, which in some cases could be to maintain your existing scheme. While some people may baulk at outlaying costs to effectively maintain their current situation, we believe this kind of careful analysis is money well spent in order to be able to make an informed decision. To avoid any conflict of interest in regards to ongoing fees, we will also thoroughly analyse whether any transfer would be better directed into your workplace pension scheme as opposed to a personal pension recommended by us.

Are there risks associated with staying in a Defined Benefit Scheme?

You may receive less than the full amount you’ve accumulated if your employer becomes insolvent and there is insufficient money in the company fund to pay out the promised pension.

Who would benefit from a final salary pension transfer?

The people who are most likely to benefit from transferring or consolidating their final salary scheme are those who are not entirely dependent on it for their income in retirement. This includes people who have other investments or pensions, or those considering taking a pension sooner or later than retirement for taxation or wealth planning.