Many people do not really understand them or how they work.
A Personal Pension is simply a savings plan that attracts tax
relief. The object of the plan is to create the largest fund possible
so that when the benefits are required this fund can be exchanged
for an income.
The larger the fund, the larger the pension payment will be.
The two biggest factors that influence the size of the fund are
the charges taken from the fund by the Pension Provider and the
investment performance of the fund itself.
High charges and poor performance can result in a very disappointing
pension income which is to be avoided if possible.
Unfortunately, very few people are aware of how their pensions
are performing compared with other available pensions and are
not aware that it is possible to move or transfer the Pension
Policy that they have to a better one.
Everyone is aware that they can change their gas or electricity
provider at the drop of a hat if a better deal presents itself.
Switching Car Insurance or Bank Accounts present no problem and
there are many ways to compare the deals on offer. Ordinary everyday
situations which we can all deal with.
Unfortunately, Personal Pensions are not so simple. People very
rarely even think about them let alone consider changing them.
People find them hard to understand………….until now!
It’s Yours Limited will cut through the mystery surrounding your
Pension for you and tell you whether or not you should change
your provider to obtain a better deal.
What can you do for me?
It’s Yours Limited can help you to make the best use of your existing
pension policies by ensuring that you are in the most cost effective
contract and help your pot of money grow by making sure it is
invested in the right funds for you.
Why should I consider moving my pension?
Making the right decision now could mean your pension could increase
substantially without costing you a penny! It’s Yours Limited will be available to give you advice both
leading up to retirement and at the point of retirement – just
when you want it.
Will further payments be necessary?
No! It’s Yours Limited is not looking to sell you another pension
policy. We do want to help improve what you already have! You may, however, make or continue contributions if you wish but
this is entirely up to you and can easily be arranged if required.
Won’t you just recommend a transfer whether it’s in my best interests
or not?
Absolutely not. It’s Yours Limited is proud to be a 100% ethically
minded and professional company. We will only recommend a transfer
if it is entirely in your best interests.
Indeed, there are circumstances when a transfer would definitely
NOT be in an individual’s best interests, such as if high Guaranteed
Annuity Rates (GAR’s) were involved or if there were not sufficient
time until retirement so as to allow the fund/s to best perform.
Do you only deal with a limited number of pension providers?
No. It’s Yours Limited is able to search the whole marketplace
to look for the most appropriate provider for you and is not limited
to using only one source.
How will It’s Yours Limited be paid?
Should a transfer be agreed, It’s Yours Limited’s costs would
be met by a set commission payment from any new pension provider
of a one off up front payment of 2% of the fund transferred followed
by an annual servicing payment of 0.5% of the fund value.
We do not take any commission over and above the agreed charge
and any excess offered by a provider would be reinvested for your
own benefit.
Alternatively, if you prefer then these charges can be met by
yourself with any commission being fully reinvested for your benefit.
