Pension Transfers | opal wealth management

PLAN FOR YOUR FUTURE, WHATEVER YOUR AGE

No matter how old you are, it is never too early to plan for your retirement Here at Opal Wealth Management. our friendly. knowledgeable learn of pension advisers can help save you time. money and hassle by helping you plan your retirement now. We feel that as retirement approaches, you deserve to be able to concentrate on planning how to spend your time rather than on saving your hard-earned assets.

PENSION ADVICE & RETIREMENT PLANNING

Once you retire, without an income built to support you for the rest of your life, those bills can mount up. leading to unnecessary stress and worry. With our industry knowledge and personal approach, we work with you to build a tailored financial plan, with the aim of giving you financial security in your retirement

FINAL SALARY

Many savvy savers are torn between valuable final salary pensions and investing their hard-earned cash in the financial markets, which, if not guided by those in the know, can lead to losing money.

Naturally, there is no one-size-fits-all solution. What may be the right route for one client is unlikely to be the same for the next. At Opal Wealth Management, we fully assess your individual circumstances, your needs and your preferences. Being aware of your current situation helps us to help you work towards more profitable outcomes in a way that is right for you.

A Pension is a Long term investment, the fund value may fluctuate and can go down.
Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax Legislation.

The Financial Conduct Authority does not regulate occupational pensions.

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Call us on 01902 712 6155 OR Send an enquiry today

Make the most of your retirement funds

1) Simplify your pensions
Transferring your existing pensions to a combined pension pot can simplify your finances, making them easier to manage in the future.

2) Boost your funds
By transferring your existing pension to a personal pension product, you could potentially increase your retirement funds.

3) Transfer your benefits
By transferring, you won’t necessarily lose the benefits of your current pension scheme. Some will still be yours, and you can choose what to do with them.

Call us on 01902 712 615 Send an enquiry today

More flexibility with your pension pot

The law now offers far more freedom when it comes to managing your pension funds. That means, if it’s beneficial to do so, you can transfer your existing workplace pension into a personal pension scheme, or another type of investment product.

We’re established wealth management advisors in Wolverhampton, and we’ll talk you through your pension options, so you can make the right choice for your financial future. Our team are here to provide advice, and answer any questions that you might have.

What is a pension transfer?

A pension transfer enables you to combine your existing pension products, such as any defined contribution pension pots that you received while you were employed.

If your pension pot is more than £30K then you'll have to, by law, see a financial adviser for advice when transferring a DB pension.

When you transfer, your pension funds will be given a ‘transfer value’ – this is how much they’ll be worth if you move them to a different product. This value is useful, as it determines whether or not it’s financially advantageous for you to transfer.

Most pension transfers are carried out with the assistance of a financial advisor. Opal Wealth Management can assist with this process. At the start of your consultation, we’ll examine your current finances, then outline the benefits of transferring your pension (if applicable).

We’ll also assess how you feel about risk. This is to make sure that our recommendations match your personal financial comfort-zone. We encourage you to ask any questions that you might have, as this helps ensure that you’re happy with your investment decisions.

Your pension, your way

If you’re not sure if transferring your pension is the best option for you, talk to our team today. We’re based in Wolverhampton, and have been offering financial advice to clients in the Midlands for years. Our approach is to discuss your specific requirements, lifestyle and retirement plans first, then make recommendations based on this.

We’ll present you with a variety of options, and work with you to develop a financial plan for your future. As appointed representatives of of Quilter Wealth Limited and Quilter Mortgage Planning Limited (and regulated by the Financial Conduct Authority), you can be assured that we operate with transparency and integrity at all times.

If you’d like to find out more about pension transfers, get in contact with Opal Wealth Management today, either by phone or email.

Call us on 01902 712 615 Send an enquiry today

FAQs

Do I need professional financial advice to transfer?

It’s highly recommended that you receive professional advice before transferring. A financial advisor will examine your current pension product, and assess whether or not a transfer will be suitable.

Are there any fees involved with a pension transfer?

There’s likely to be some fees involved with transferring your pension. For example, if your transfer value is lower than the value of your pension pot, you might incur an early exit fee. We’ll outline all the fees involved with the process, to ensure that you understand exactly what you’ll be paying out.

Is transferring my pension the right thing to do?

This depends on the nature of your current pension, and what financial plans you have for the future. There may well be some advantages to transferring your pension, but equally, you might lose some benefits in the process.

Get in touch to discuss your options with one of our team.

What pension products can I transfer into?

There’s a wealth of pension schemes to choose from. We’ll identify the ones that match your needs, then explain how each one works. To find out more, get in contact today.

Transfer your pension – starting today

If you’d like to learn more about transferring your pension, talk to the Opal Wealth Management team. We’ll go through your options with you, then make recommendations that meet your individual requirements

To make a start, get in touch today.

Tax treatment varies according to individual circumstances and is subject to change.

Transferring out of a Final Salary scheme/Defined Benefit Scheme is unlikely to be in the best interests of or be suitable for most people.

If your pension pot is more than 30K then you'll have to, by law, see a financial adviser for advice when transferring a DB pension.

Advice on Pension Transfers