New Posts For Thread: after speaking to a pension advisor today anybody explainhttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explainthe difference between an ordinary pension with profits and a sips,been told if i take my 25% lump sum the remainder goes into a sip which can go up as well as down ,is this not the case with the original pension , also said i would lose roughly 4%not if you use their wrap creditorhttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explain?post_id=425964270#425964270not if you use their wrap creditorWed, 03 Feb 2010 09:22:20 -0600standard life make al capone look like a member of the salvation army...https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explain?post_id=425964258#425964258standard life make al capone look like a member of the salvation army...Wed, 03 Feb 2010 04:38:40 -0600Standard Life do offer a drawdown facility.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explain?post_id=425964178#425964178Standard Life do offer a drawdown facility.Fri, 29 Jan 2010 02:18:05 -0600If its a with-profits fund the 4% probably refers to the Market Value Reduction (MVR), which is an effective reflection of the real value of the underlying funds. If left to selected retirement age, usually 60 or 65, then no MVR is chargeable.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explain?post_id=425964170#425964170If its a with-profits fund the 4% probably refers to the Market Value Reduction (MVR), which is an effective reflection of the real value of the underlying funds. If left to selected retirement age, usually 60 or 65, then no MVR is chargeable.Thu, 28 Jan 2010 16:48:33 -0600Chisel, do not brush all pension advisers withthe same brush.It is likely he may not be able to go into drawdown with Standard and will have no other option than to transfer.By transfering to most Sipps there are no commissions payable,it would be fehttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explain?post_id=425964138#425964138Chisel, do not brush all pension advisers withthe same brush.It is likely he may not be able to go into drawdown with Standard and will have no other option than to transfer.By transfering to most Sipps there are no commissions payable,it would be feTue, 26 Jan 2010 05:28:32 -0600its with standard life and this was only on 2 phone conversations,ill be seeing him on the 15th of feb for a proper talk,we are not talking about a huge fund here so the annuity route will be a non starter really,just trying to make the best of a badhttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explain?post_id=425964134#425964134its with standard life and this was only on 2 phone conversations,ill be seeing him on the 15th of feb for a proper talk,we are not talking about a huge fund here so the annuity route will be a non starter really,just trying to make the best of a badTue, 26 Jan 2010 04:55:50 -0600Harry absolutaley right. But it appears that the adviser may see a pay day in store. By recommending taking a lump sum and transfering the remaining fund to another provider big commission can be earned. I am not saying not to do it , but at 51 thehttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explain?post_id=425964130#425964130Harry absolutaley right. But it appears that the adviser may see a pay day in store. By recommending taking a lump sum and transfering the remaining fund to another provider big commission can be earned. I am not saying not to do it , but at 51 theTue, 26 Jan 2010 04:15:38 -0600You dont have to take any benefits other than the 25% unless you buy an annuity at that time with the balance. Maybe chisel can cionfirm if im right or wrong.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explain?post_id=425964126#425964126You dont have to take any benefits other than the 25% unless you buy an annuity at that time with the balance. Maybe chisel can cionfirm if im right or wrong.Tue, 26 Jan 2010 04:02:29 -0600Oh Poster, Be careful with pension advdiser. If they can get you to transfer your remaining pension they will earn A LOT of commision.Who is your pesion fund currently with?https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explain?post_id=425964122#425964122Oh Poster, Be careful with pension advdiser. If they can get you to transfer your remaining pension they will earn A LOT of commision.Who is your pesion fund currently with?Tue, 26 Jan 2010 04:01:11 -0600Sounds like a good plan! Sorry to hear about your job poster.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726022/after-speaking-to-a-pension-advisor-today-anybody-explain?post_id=425964118#425964118Sounds like a good plan! Sorry to hear about your job poster.Tue, 26 Jan 2010 03:58:53 -0600