These are unprecented times, but history can teach us a few things.

When you invest your money, some parts of your portfolio will do well and other parts won’t do so well. This is why your investment needs to be diversified. You won’t get fantastic returns nor will you get devastating losses.

Are you aware of what fees can be charged on your transferred pension? When you enlist the help of a financial advisor, you’ll pay ongoing fees that are based on the value of the total pension amount.

According to research conducted by Russell Investments, an adviser can add more than 5% to a client’s portfolio. Furthermore, they found New Zealand advisers add more value to their clients than advisers in the US and Australia.

In 2016, the Financial Conduct Authority (FCA) made it compulsory for anyone wanting to transfer out of a Final Salary, or Defined Benefit (DB) Scheme, that had a transfer value of over £30,000 to obtain FCA advice prior to transferring. Find out why this may not be the best option for you.

When transferring a contributing pension scheme (not a final salary pension) there are two methods for calculating how much tax you will be liable for. These are the “Schedule Method” and the “Formula Method”. 

You can choose which method to use based on the one that gives you a lower tax liability.

“Final Salary” schemes - also referred to as “Defined Benefit” schemes - are a hot topic of debate in the UK. People are questioning whether to stay in these schemes, or cash out of them based on the incentives being offered to exit them.