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Pension Tracing Service

For you, the pension holder, it is quite an easy process.  If you contact a qualified IFA like myself then we can do all the hard work for you, here are the steps that you need to take:

  • Contact the IFA
  • Complete a letter of authority
  • 4 – 8 weeks later the IFA should have all the information available for you to make your decisions.

The IFA should complete various forms with you including a “Fact find and Attitude to Risk” questionnaire, and should be able to provide you with a detailed report on all the pros and cons of transferring your pension. You should be given information on all the options available to you now and at the time you intend to take the benefits.

You should not wait until you are ready to retire to find out what your options are.  There are many cases where pension pots built up in the UK years ago are now sitting dormant or invested in old funds which are not being  managed as well as some other funds available now.  Reviewing your pension pot during the early years on a regular basis can make a huge difference to the size of fund you have when you come to retire.

There is no cost to you to find out about each of your pension pots; normally a provider will allow you to apply for a transfer value once each year free of charge. They often charge for a second or subsequent application within a 12-month period.

I would strongly recommend you find out about your pension pot now, you have nothing to lose and you will be better placed to start planning your retirement.  I have been involved with pensions for nearly 30 years and can categorically state keeping on top of your own provision will pay you dividends in the long run.

In today’s financial climate it is essential you do everything you can to make sure your money is safe and secure, so that what you want to transpire in the future has the best chance of happening. 

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UK probate fees – a tax on bereavement?

Linking probate fees to the size of a person’s estate is effectively a tax on bereavement. Families with large estates in the UK will now have to start considering ways to reduce the size of their estate before they die. 

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Regular savings or not, your pension planning matters

As the baby boomers hit pensionable age, the issue of pensions has become more important politically than ever before. This is a fact which has been reflected in the raft of changes that have been made by both the current and the previous government over the past few years. Baby boomers could be forgiven for feeling a little confused by it all and even retired expats with considerable regular savings are no different; pensions and pensions rules affect all.

Whoever you are, wherever you have settled in Europe and whatever the nature of your pension scheme – final salary or defined contribution – it is essential that you get advice regarding both your expat regular savings and your pension scheme; it can mean the difference between uncertainty and security.

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