"The best performing pension could produce more than three times more pension income than the worst performing one. The really bad news is that your pension fund is more likely to be amongst the bad than the good" The Observer
The answer, very simply, is because it is likely to prove to be in the best interests of the client or prospective client. But, of course, only if this prospect is highly likely.
A transfer, where appropriate not only usually leads to commission or fees for the adviser (or, if using the services of The Pensions Office, the introducer) but, much more importantly, further consolidates the relationship between the adviser and clients. Money Purchase transfers might usually seem straightforward, but sometimes this can be deceptive.
Final Salary transfers, even if authorised, are now well established as a minefield for the unwary or inexperienced pension specialist. The way forward?