Worldwide Financial Planning

In June, the regulatory body governing pension transfers (FCA) scrapped the starting position for transferring a company pension (Defined Benefit Scheme).

The starting position used to be that it was always unsuitable.

In simple terms, your company pension is guaranteed by your company. The company invests its money (a fund) to provide the best returns and meet its liabilities to you. If it doesn’t do well enough, it has to make up the shortfall, unlike a personal pension (where you are transferring to) where YOU have to make up the shortfall.

The test flight is undoubtedly a defiant response to the to the additional sanctions imposed on the dysfunctional state this week by the UN in response to their earlier nuclear test.

Less alarming domestic developments come in the form of the Bank of England's latest decision not to raise interest rates yet again.

There has been a stampede to transfer assets from company schemes as the transfer values have soared particularly in light of the Brexit vote.

This week the natural disasters keep on coming, with another potentially more damaging storm about to hit the south-east cost of America, and at the time of writing there is breaking news of a huge earthquake in Mexico that might have caused many fatalities.

The economic impact of these events is always difficult to estimate.

SJP cannot give independent advice as they are not independent, but instead operate from a small selection of funds they have chosen to be the ‘better’ funds.

As a ‘non independent’ they won’t charge a fee and therefore will only be paid if you invest with them. This assumes you should be invested, rather than receiving advice which you pay for, which may lead you away from investing in the first place.