Have you already transferred your UK pension to a QROPS or SIPPS?
Are you happy with the way it’s being managed?
If you have already transferred your UK Pension to a QROPS or SIPPS, are you happy with the way it’s being managed?
We surveyed a group of expats around the world and found that only 30% of clients are in regular contact with their financial advisor, with the other 70% being left in the dark completely.
Are you surprised at how high the fees and charges are?
QROPS and SIPPS can often have very high costs, however it is possible to reduce the fees and charges of your pension, you just need to know where to look.
Shockingly, 1 in 5 clients with a QROPS or a SIPP don’t even have an advisor.
If you fall within these statistics, it may be time to get a full review on your QROPS or SIPPS.
The number of global financial advisors is slowly falling, due mainly to the increase in regulation and decrease in up front commissions, particularly in Asia and the Middle East. Although the aim is to improve service for the consumer, it has inadvertently closed down many small firms leaving some clients stranded and with no one to turn to.
If you would like a second opinion, or even want some help from a qualified financial advisor, contact us and we can point you in the direction of a fully licensed, regulated broker who will be able to ensure that your pension is in line with your risk profile, and on track to providing you a happy retirement.
- A study from the Financial Times showed that 45% of working Brits never review their pension plans, and those that do, 38% simply select the default option for their scheme.
- Consumer Research revealed that more than a third of Brits do not even know where their pension is invested.
- One fifth of Brits aged 65-69 are still in employment.
- The biggest UK pension pot of an individual was £21 million, paying out £1.3 million annually.
- Starting to save for a pension at the age of 25 could leave retirees with £600,000 more in their pension pot than if they delayed saving until age 40.
- Pension fund deficits amongst FTSE 100 companies are so large, a third will never be met.
- Within all FTSE 100 companies, £2 of every £3 is spent on past pension deficits rather than current employee benefits.
If you would like to have a full review of your UK pension, please fill in the below details