Nissan pension scheme

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timeforheroes1 said:
500kish cetv pension transfer would normally net the advisor around 12/15k in initial commison if using sjp for example.

No charge to the transferee but capped in first 5 years at 7.5 percent max withdrawal (exluding the 25 percent tax free lump sum) otherwise charges are incurred
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Is that why we had someone on here asking questions, cannot remember who it was now without looking?
 
Goat Eyes said:
Should be charged on a per hour basis like a solicitor IMO. The change in the way you pay for a transfer will hopefully drive change in the industry to be fairer with their pricing so that everyone can receive fair and honest advice without having to sacrifice a portion of the pension they’ve spent a long time accruing.

I can’t help but think it’ll be a good thing for the industry and ultimately for the consumer. Albeit the earning potential of the advisor will be less so I can see why they are narked.
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I’m a financial adviser but don’t get involved in this kind of pension transfer business because the risk of complaint and figures involved in redress are eye watering. Any business involved in this are having to pay huge sums in professional indemnity insurance too hence high fees/costs for the client.
 
Hucknalls Fluffer said:
I’m a financial adviser but don’t get involved in this kind of pension transfer business because the risk of complaint and figures involved in redress are eye watering. Any business involved in this are having to pay huge sums in professional indemnity insurance too hence high fees/costs for the client.
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There’s an advert on the television at the moment, anyone that tries to wriggle their way into this a parasite in my eyes.
 
Cee Jay said:
that will be the difference...unsustainable ( whether true or not) different to being found to discriminate on the basis of age. That is why the FBU won their High Court case.
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Aye we won our case on age discrimination, some people were protected under the transition scheme while others with identical years of service or more weren’t. Lad on my course had full protection and I got fuck all just because he was 5 or 6 years older when we signed up. I dare say if they‘d said the 92 and 06 schemes ended for everyone by whatever date we’d have lost our case miserably. I have no doubt the fuckers will come after us again though, hopefully I’ll be retired by then as I’ve got less than 5 to do but I’m not holding my breath.
 
I'm Spartacus said:
Aye we won our case on age discrimination, some people were protected under the transition scheme while others with identical years of service or more weren’t. Lad on my course had full protection and I got fuck all just because he was 5 or 6 years older when we signed up. I dare say if they‘d said the 92 and 06 schemes ended for everyone by whatever date we’d have lost our case miserably. I have no doubt the fuckers will come after us again though, hopefully I’ll be retired by then as I’ve got less than 5 to do but I’m not holding my breath.
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The same thing happened to me. I had to move over to the new scheme whilst a fella 12 years older than me didn't despite us both starting in the same year. Interesting.
 
Surely the scheme is being frozen meaning everything already accrued is safe? Bit of a cunts trick if they're going back on what's already been put in.
 
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