Helping clients with their options
There will be some key considerations when developing an investment strategy for your clients
Pension account consolidation?
It’s increasingly likely, as pension savers move from one employer to another, that they will have built up benefits across a number of pension plans.
With providers using different fund specific projection rates, and with annual statements arriving at different times, it’s increasingly difficult for clients to get a clear view of what their plans are worth today, and how much income they’re likely to achieve when they retire.
Even if you’re moving other assets to the Zurich Intermediary Platform, transferring a pension is never an easy decision. Consolidating a number of plans into one isn’t likely to be a strong enough reason on its own, you’ll also need to consider;
- the benefits provided by old plans as many won’t be available from a modern pension – like guaranteed annuity rates or pension term assurance
- the potential downsides of older pension plans such as, higher charges and reduced flexibility
- the potential better returns in the long term by reducing your client’s overall charges within the Zurich Intermediary Platform compared to their old plans.
Transferring a pension
Transferring a pension onto the Zurich Intermediary Platform
Most personal and occupation pension plans can be transferred to the Zurich Intermediary Platform. And, if the investments can be re-registered, your client doesn’t need to be out of the market.