More than £28bn has been withdrawn since the pension freedoms started in April 2015 according to the latest statistics issued by HM Revenue and Customs. A record 336,000 individuals withdrew from pensions in Q2, a 27% increase on the same quarter last year. The full statistics can be found here:
If you need advice on Pension freedoms and Defined Benefit Pension schemes, it is imperative that you take independent financial advice from a recognised Pension Transfer Specialist. Not all advisors are qualified and licenced to advise on these matters. Hamnett Wealth Management are. We are your local, established Independent Financial Advisors. We are highly qualified and up to date with the latest legislation and are authorised and regulated by the Financial Conduct Authority.
Our Pension Review Service allows you to consider the valuable benefits that would be lost on a transfer out. Once you’ve transferred out there is no going back. This could be the biggest financial decision you will ever make in your life. It is imperative you make the right choice. No two people are the same and you shouldn’t be blinded by big figures and the thought of free money. You’ve worked hard to build up these benefits so you should be careful not to blow it.
If you feel you could benefit from talking to an Pension Transfer Specialist, please contact Hamnett Wealth Management on 0114 235 3500.
