Help with Pension Setup

A

AJAM

Registered User
Messages
487
Hi All,

A friend has asked me to look at their pension setup.
The setup looks very strange to me. It was setup in 2020 as a transfer from their old employer via a broker/advisor.
I can't for the life of me understand why there are 5 different policies, and why there is a mix of Matrix ARF and Buy out Bonds.
At the time it was setup I recommended the fund choice, and it seems that each of the 5 policies has requested fund choice.
Is there some reason to have 5 separate polices like this?
Do you have to have a mix of ARF and Buy out Bond?
Is a Matrix ARF different from a standard ARF?

 
Three different transfers from three different schemes to three different BOBs. Normal.

BOBs matured on same date and, after tax free cash, values transferred to an AMRF (now an ARF) and ARF. Normal.

ARFs should be 75% of BOBs (I'd say) so maybe there was a drop in value or there was some charge on BOBs.
 
Last edited:
Thank you.
Are you saying that the BOBs actually no longer exist. They were transferred to the ARF's?
And that I can now combine the 2 ARF's into 1 (because AMRF is no longer a thing).
 
AJAM said:
And that I can now combine the 2 ARF's into 1
Click to expand...
You or your friend?
Even if you can combine different pension policies into one it can sometimes (often?) be better to keep them separate for the flexibility that this gives.
Only combine pensions if there are clear and tangible benefits for doing so.
 
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