Investment Advice Questions

FAQ

Locating a misplaced pension in the UK can be a challenging and lengthy task, particularly when lacking crucial details. However, there are several avenues you can explore to track down your pension, such as reaching out to your previous employer, reviewing old documents, or directly connecting with pension providers.

Investment Advice offers a comprehensive Pension Tracing Service to alleviate the burden of the search. While you’d need to provide details about your past employers and, if available, any pension-related documents or provider names, our team at Investment Advice streamlines the process for you.

The UK government also provides a pension tracing service at no cost. This service aids in identifying forgotten pensions by giving you the necessary contact information for your pension scheme. But utilizing this service isn’t always straightforward; it primarily serves as a tool to assist in identifying potential pension assets.

If you face challenges in locating your pension, it might be wise to consult with a financial consultant or pension expert. However, it’s worth noting that many professionals might not undertake the task of tracing the pension unless you possess additional pension assets that they can oversee. Alternatively, they might impose a fee for conducting the pension search.

No matter the approach you select, dedicating effort to find your lost pension can yield significant advantages for your future financial stability.

Deciding on a suitable financial advisor in the UK is pivotal for your financial future. Here are steps to ensure you make an informed decision:

1. Research & Comparison: Investigate potential advisors, considering their experience, credentials, and fees. Sources like online platforms, referrals, or professional bodies can assist.

2. Services & Fees: Prior to commitment, understand the services and their associated costs. Advisors might charge a percentage of managed assets or a flat fee.

3. Credentials: Prioritise advisors with significant credentials like Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA).

4. References: Acquire and check references to understand their service quality.

5. Communication: Opt for an advisor who understands and listens to your financial aspirations.

6. Approach: Grasp their investment philosophy, ensuring it aligns with your financial objectives.

Advisor fees in the UK differ based on their experience, provided services, managed assets, and location. Generally, they might charge a percentage of assets under management, typically around 1%. Always discuss fees upfront and ensure clarity on the provided services.

The UK has set pension contribution limits to optimise your savings without additional tax implications. There are different groups based on the contribution, type of plan, or adjustments in their contributions. They might be subjected to the Annual Allowance (AA) or Lifetime Allowance (LTA) charges. The AA is an annual savings cap, while the LTA is a lifetime savings limit. Exceeding these may result in extra tax charges.

A defined benefit pension in the UK guarantees a specific retirement benefit based on your salary and tenure. The employer is responsible for funding and ensuring the plan’s obligations. These are considered secure due to their predictability and are regulated by the Pensions Regulator.

To confirm the independence of your adviser, the FCA website is a reliable resource. It provides details on the advisory’s independence status.

Guidance on your pension must come from FCA-regulated entities. It’s essential that individuals within these firms possess the necessary defined benefit pension qualifications and expertise.

Qualified FCA Financial Advice

All our advisors are certified by the FCA.
That means you are protected and assured of getting qualified advice. When you speak to your advisor you can confirm their credentials on the FCA web site.

Real Expert With A Wealth of Experience…

To find an experienced and qualified expert advisor is often difficult. Many advisors provide an overview of advice but are not qualified to provide specific advice in particular areas…
Pensions Advice UK helps you to find experts who:

  1. Are qualified, authorised and experienced
  2. Are Specialist Pension Advisors
  3. Are High net worth specialists
  4. Have a proven reputation for providing high quality advice
  5. Adhere to the strict FCA code of conduct
  6. Provide clear and simple to understand advice.
  7. Have access to all the pension market place.
  8. Are accessible and provide regular reports and updates
  9. Are pro-active in working with their clients

Improve Your Retirement Income?

By combining your pension funds and managing the funds they are in you can improve your overall retirement income potential.

Use our Pension Tracing Service and we will help you find the pensions and then you can utilise them for your retirement!