The Financial Conduct Authority (FCA) has recently released findings on the quality of pension transfer advice given by specialist advisory firms. These findings show that less than half of the advice given to clients regarding their defined benefit pension scheme was deemed ‘suitable’, based on new rules set by the FCA regarding pension transfers. Over half of those that received advice chose to transfer their pensions. People basing significant financial decisions regarding their pension on ‘low level’ advice, this may mean that the processes, potential benefits and risks may be overlooked, miscommunicated or not even disclosed in rare instances.
If you are currently thinking about transferring your UK pension to New Zealand, there are many things to consider. Ensuring you have a qualified advisor to give high-quality advice is imperative. Don’t have your own advisor? Ranfurly can put you through with an advisor licensed to give advice in the jurisdiction you are a resident in. The transfer process can be complex, and so we can help find a suitable advisor, that’ll help you through the transfer process.
Ranfurly Strategic offers a New Zealand registered Ranfurly Superannuation Scheme (the Scheme). The Ranfurly Scheme is listed on the UK Government Recognised Pension Schemes List. The Scheme comprises of 5 funds, each tailored to the unique goals and objectives of our members. The Ranfurly Scheme offers members security, proximity and peace of mind. To get in touch with us, contact Ranfurly at support@ranfurlystrategic.nz.