If you are looking to transfer your pension you may have many questions. Working with a qualified adviser will help you make sure your pension transfers are handled in accordance with your wishes. In order to make sure that you’re transferring pensions go off without a problem there are some tips you should follow.

There are the top 10 tips for effective pension transfers:

1. Find an independent pension adviser that you trust. There are many complex rules and regulations regarding transferring pensions. An independent adviser will be able to guide you through the process without guiding you toward one particular product or fund. An independent adviser will also have all of the latest information in order to help you make an informed decision.

2. Check benefit levels of the new pension plan. Each pension has its own benefit levels. An independent adviser will help you make that you are transferring to a pension that has an equal or more generous package than your current pension plan. An independent advisor should be giving you pension transfer advice that helps you gain benefits with a transfer.

3. Make sure the growth levels of the new pension to ensure which will give you a good return on investment. Every pension has its own growth rate and your adviser should be checking to make sure the growth rate of the new scheme will be sufficient enough to give you a timely return on your investment.

4. Find out about the nominations in the new pensions that you are considering. Make sure that your adviser checks the ability to make nominations. You will also need to make sure that your adviser will hold to your nominations. If you die before your retirement you will want to make sure that your beneficiaries get your money. You may want to make multiple nominations to ensure that your money will go to who you choose. For example, if your spouse dies with you, then you will want to make sure your children get your pension.

5. Ensure the retirement age matches your projected age. If you are transferring a pension within 10 years of retirement you will need to ensure that you do not lose rights with the new pension. You will also want to make sure that you do not lose a lot of value in your transfer, in order to keep the value you have earned.

6. Make sure you are happy with the management fees. One of the most competitive areas of pensions is the management fees. In fact, many people have transferred pensions to simply avoid these fees. Your adviser will need to check into these fees to make sure that you are happy with them.

7. Get a review. Since you are already seeking pension transfer advice have the adviser review your current situation and make sure you are on track. Once this review is complete you may want to schedule regular reviews.

8. Get your paperwork together. When transferring pensions you will need to have all the paperwork associated with that pension to give to your adviser.

9. Make sure you are on track to hit your income goals. If you have some time before retirement you need to make sure that you are on track to hit your goals. Once your pension transfer is complete have your adviser take time to make sure you are meeting your goals.

10. It is never too early to start looking for an independent adviser. Before starting on any pension transfer get your independent adviser. Take your time and make sure you complete a full interview when looking for that adviser.

Author Bio: Edward Simpson provides a huge broad range of financial services expertise as well as being considered a consultant on all sectors. Please visit http://www.agpensiontransfers.com/ for additional information on pension transfer products.

Category: Finances
Keywords: financial services,business,pensions,pension transfers,finance,retirement,advice