Transferring to a buy out bond: query on charges

  • Thread starter agencycontractor
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agencycontractor

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On this website there is plenty of info about pension charges ,start up costs , brokers who have low commissions as they have instruction only services etc.

Does anyone have info on where you can transfer your pension to buy out bonds that have competitive charges?

Do any of these instruction only brokers who sell buy out bonds?
If so can you reply to this message.

Thanks
 
Correction ,
I mean 'execution only brokers ' in the last message
 
We facilitate execution-only investments with enhanced allocations.

How old are you, roughly what size is the pension fund and what fund manager have you chosen?

Liam D Ferguson
www.ferga.com
 
If you have your fund with one company and you transfer your fund to a buy out bond with the same company generally you will no be charged any additonal charges and may even get a higher allocation that is over 100% by going to a broker or financial advisor you are just going to get charged commission or pay a fee, it is a relatively simple process than can be done over the phone by dealing direct with the life company
 
Not so

If you deal directly with a life assurance company for a Buy Out Bond, they will deduct normal commission and pocket it. They may offer 100% allocation but that only means that they will recoup their commission over time rather than up-front.

If you go to a broker and obtain nil commission terms, these will invariably be better terms than what you'll get by dealing directly with the life assurance company. (Often >100% allocation.) Yes you will pay a fee but as long as the fee is lower than the normal commission, you're better off dealing through a broker.

Note - I am a broker and therefore have a vested interest but this doesn't change the facts.
 
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