Equity release for pension transferers

Posted in Equity Release Video News

30th July 2010

Paying for pension transfer advice by commission could knock up to 30 per cent off your retirement fund, heightening the need for an equity release scheme.

This is the key finding of a study by Which? into how much money consumers are losing due to advisers encouraging savers to switch their pension when there's no need.

They found that a typical 45 year old customer could see his £50,000 pension pot reduced by a third due to the high levels of commission charged by the adviser.

For people who have experienced this, an equity release plan may be the way to claw back some of the lost money, to help make your retirement a comfortable one.

Which?’s Peter Vicary-Smith remarks that the results of their report were “shocking” and advises paying a one-off fee rather than commission when seeing a pensions adviser.

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