There are various reasons why you might transfer your pension, ranging from:
Firstly, you need to request a 'Statement of Entitlement' from your scheme administrator. This will contain the scheme details along with the guaranteed transfer value and the deferred benefits. Your Pension transfer specialist will then use this, along with the detailed fact-find document to assess whether it is in your best interests to transfer the benefits.
The whole process from start to finish will normally take 6-8 weeks.
The costs vary depending on the value of the transfer. The cost that Advies Wealth charges is between £5,950 and £20,000.
You will be presented with a full report that details advice that the Pension Transfer Specialist recommends. However, the final decision is up to you and if you choose not to proceed, you can revisit the process again at a later date.