Financial Advice
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We are authorised and regulated by the Financial Conduct Authority.
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We are authorised and regulated by the Financial Conduct Authority.

Pension Consolidation

Consolidating all your pensions with one pension provider is an easy enough process but one that should not be taken lightly until there has been a full analysis beforehand and financial advice has been given.

Transferring or consolidating your pension(s)

Transferring or consolidating your pension(s)

The reasons for pension consolidation are plentiful and here are just a few of them:

  • You have left your old job for a new one with a different employer who more than likely will have a different workplace pension scheme.
  • Over the years you have accumulated more than one pension pot and now want to bring them all under one roof to manage them more effectively.
  • You want access to more investment options.
  • Your pension scheme, past or present, has been closed.
  • You want 24/7 access to your pension investments.
  • You may want all your investments in one place including not just your Pension but also your ISAs and General Investment Accounts as well.
  • It could be that you’re moving abroad.
  • Other pension providers could be offering better value for money.
  • You’re fed up with your pension provider being sold to another without any decision-making input from you.
  • You want less paperwork and administration.
Things to think about...

Things to think about...

  • It’s unlikely that you should transfer your Defined Benefit (Final Salary) Pension Scheme to another provider although in very few cases there are mitigating circumstances.
  • You need to make sure that when you consolidate or transfer your pension to a new provider, you don’t give up valuable guaranteed benefits or get hit with hefty exit/surrender charges.
  • As with all investments, the value of your pension can go down as well as up so you may get back less than you put in.

How we work

We keep it straightforward and simple.

1  

Arrange a Lifestyle Planning Meeting

A meeting at our expense to identify where you are now, how you got to where you are now, and where you’re trying to get to in the next 5, 10 and 20 years and so on for the rest of your life; in other words, a Lifestyle Plan.

     
2  

Arrange a Financial Planning Meeting

Another meeting, again at our expense, to identify all the resources available to you now, resources that will become available in future, and most importantly resources that might have to become available to satisfy the needs of your Lifestyle Plan.

     
3  

Arrange an Implementation Meeting of your Financial Plan

If, and only if, your Financial Plan indicates that that your needs would be best served by a financial or investment product and service, it is at this point that a recommendation will be made, again at our expense. If you are happy to go ahead in full knowledge of the facts and the fees involved, we can then start to implement your Financial Plan. If you want to walk away at this point, no problem; we wish you well and it won’t have cost you anything.

     
4  

Arrange an Annual Forward Planning Meeting

Now on board as a Sutherland IFA fee-paying client, an annual meeting is held to make sure that your Lifestyle Plan and your Financial Plan are on track to meet your financial goals and objectives.

Let’s start a conversation

We welcome the opportunity to learn more about how we can help you. Schedule a free no-obligation consultation, you might be surprised!