You can choose to take your benefits from the Plan in a number of different ways. As Trustee of the Plan we offer more options now than was the case in the past, and changes in regulation have given members of all pension schemes greater choice and flexibility. While we, of course, welcome the fact that members have more choice, we are also concerned about the complexity of the decisions faced by members.
Taking impartial financial advice can be a very good way of navigating your way through the range of possibilities. Indeed, if you want to take advantage of one of the options available to you, leaving the Plan entirely and transferring to another pension arrangement such as a personal pension, you are required by law to take proper advice.
Impartial financial advice can be expensive, with the cost running into several thousand pounds and you may well have heard horror stories about people receiving poor quality financial advice.
To help members to access high quality advice at a reasonable price, with the support of our advisers, we have reviewed the final advice market. As a result, we have decided to partner with Origen, a financial adviser registered with the Financial Conduct Authority. Origen have been carefully selected to offer advice to members at rates considerably below those normally available in the open market.
We have worked with them so that they fully understand the Plan and its benefits. If you choose to use them they will take time to understand your needs, provide you with advice on which option may be most appropriate for your personal circumstances and discuss with you why they believe this to be the case. We expect that you will find the process informative and beneficial in helping you to understand the pension flexibilities available.
The basic cost of this advice will be £995 + VAT. If your affairs are more complex, you may choose to take additional advice, for which there will be further costs.
If you are interested in this offer please call 01785 785400 between 8:00 am and 5:00 pm Monday to Friday to request a pack.
If you decide to receive advice from Origen, you will need to pay the fee at the start of the advice process. The fee will be £995 plus Vat
Important Note: the charges negotiated by Telent are competitive in the advisory market place. Typically Financial Advisors charge between 2%-3% of the transfer value, so for a transfer value of £200,000 this charge would equate to £4,000-£6,000