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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Blog | November 2008 (4 blogs) | Pension transfer value requests increase a cry for help?
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Pension transfer value requests increase: a cry for help?
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People visit our website through any number of ways, but last month saw a noticeable increase in unique visits through one particular search term: How safe is my pension? (or very similar).
The decrease in confidence in financial markets has led pension policyholders and scheme members to question just how safe are their retirement provisions. Some are looking at alternative methods to securing their existing pension provision and this has meant a rise in requests for transfer values, although I suspect some of that rise was driven by the new Transfer Value Regulations (which came into effect on 1st October 2008).
Scheme members and policyholders are right to ask the question about security, but great care needs to be taken about the merits of transferring through a knee-jerk reaction to global events. Frying pan and fire come to mind. See:
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Mike Jones, MyCompanyPension.co.uk, 4th November 2008
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