Questions to Resolve
- Currency & Inflation Risk. Exchange rates can move either way. Compare the currency of your pension income with your future spending and allow for inflation.
- Compliance and tax pitfalls. An unauthorised payment is generally charged at 40%, with a further 15% surcharge only where statutory conditions apply. Other transfer charges may also depend on the facts.
- Fragmented Portfolios. Different providers can mean different statements, charges and retirement options. Bring the details together before considering consolidation.