OFT calls for pension reforms
An Office of Fair Trading (OFT) study of the defined contribution (DC) workplace pensions market has found some schemes are not offering value for money.
A particular area for concern is older higher charging contracts, may not be delivering value for money.
There has never been a better time to review your existing pension and find out if it is delivering good value for money. If your pension is not delivering value for money, you normally have the option to switch your pension to a more suitable pension contract. Pensions are complicated and require expert independent advice. Independent advice should always be taken before you consider switching or amending any pension contracts.
Contact us today for a no obligation pension review and discover how our independent pension advice can help you plan safely for your retirement.
Farrell Financial Planning are independent financial advisers offering expert advice on pensions and much more. Our Scottish base in Glasgow is no barrier to offering pension advice across the UK.
A pension is a long term investment. The fund value can fluctuate and go down. All information is based on Farrell Financial Planning’s understanding of UK law & HMRC practice in the UK. Tax and legislation are subject to change.