Even more reason to come to us early for migration and pension transfer advice
One of the biggest barriers to delivering financial advice quickly to our clients is our reliance on obtaining information from occupational pension scheme administrators. Often, the delay at their end is also due to awaiting details from the government relating to the Guaranteed Minimum Pension (GMP). This, along with various other details, is vital for us to make an assessment as to whether or not to transfer your pension to an overseas scheme known as a Qualifying Recognised Overseas Pension Scheme (QROPS).
This delay has been an ongoing issue and is unfortunately only set to get worse in the near future. Industry figures have warned that HM Revenue & Customs will struggle to cope with a deluge of information requests from pension scheme trustess attempting to equalise GMP payments; a problem that has existed for 20 years and now needs to be addressed.
In order to deliver our migration advice to you in plenty of time before your departure and, where appropriate, arrange for a transfer of your benefits to an overseas pension scheme, it therefore becomes even more essential for you to come to us as early as possible for your free initial consultation.
Please contact us on 01483 202072 for more information.
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