Tuesday, November 22, 2011

Financial advice about opening a Pension scheme?

Where can I get impartial advice about opening a Pension scheme for myself when I get half my ex husbands Naval Pension? My Solicitor says I must have one in place for my share when the order goes through. Is it a free service? I hope this explains enough for someone to answer my query. Thank you.Financial advice about opening a Pension scheme?
For the best annuity rates which are provided impartially try the Financial Services Agency. Log into fsa.gov.uk/tables and they list the best rates. I would select the best three or four and ask your financial adviser to get THEM to quote formally not his pet company from whom he gets the best commission.


You could of course approach the pension company direct.


IFA's usually take their commissions from the pension company so you should not have to pay them but you should ask your people to confirm this.


Like you I have never considered IFA's truly independent.





Best wishes.Financial advice about opening a Pension scheme?
First, ask your solicitor to suggest one, ';Who would you call if this were for you?';





Second, if I grasp the situation correctly, then banks, brokers, and insurance companies all have people that will happily help you. There will be a fee, but they usually take it when the money starts flowing into your 'scheme'.
Most companies will not charge you for a rollover. You may want to roll the funds into an IRA account. A fixed or indexed annuity is also an option.

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