"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
It is perceived wisdom amongst many financial advisers that few early-leavers from final salary pension schemes should consider transferring to a private pension arrangement.
The pension transfer review – the key aspects of which are still being applied for post-1994 transfers by the FSA and the Financial Ombudsman Service – has highlighted (“exaggerated”, some might say) the possible dangers of recommending these transfers.
That’s unfortunate, because there are so many good reasons why a transfer should be recommended in certain circumstances including security of benefits, flexibility, death benefits and investment control. If you are not authorised or not willing to consider these transfer enquiries yourself, what should you do?