Profile pensions

[Kev880]

Hi
Anyone used Profile Pension for advise or have you gone to an independent adviser?
Seem to be ok but are their charges at nearly 3% a bit high?

Edited by Kev880 on Friday 12th January 19:07

[JulianPH]

They also have a 0.6% annual charge, this is going to add up over the years (20 years = 12%).

I would be more concerned about that.

They are just a financial adviser firm offering to trace your pensions (something you could do yourself if you are so inclined) and then switch everything into one place for a fee.

Nothing wrong with that, but nothing ground breaking either.

[The Leaper]

OP,

If your first concern is to trace a "missing " pension, your best route by far is to contact The Pensions Advisory Service (TPAS) who will do everything for you. All their services are free and impartial. Note that they do not provide any financial advice. Whatever service provider you use, bear in mind tracing a pension can be very time consuming.

TPAS was set up many years ago and is a not for profit indirectly government financed organisation, a quango. Their finance comes from a per member levy on all UK pension plan managed by the DWP.

R.

[Ginge R]

OP,

This might help.

https://www.gov.uk/find-pension-contact-details

[The Leaper]

That link may help but in my experience it may give you a pointer to the wrong place! Problem is the site relies on getting information from a variety of parties with pension responsibilities, and it is not kept fully up to date. This means that there is the danger that it gives you old information which you think must be right (it came from a government sponsored source, after all) and if it's not correct you will spend some time convincing yourself that what you were told was incorrect.

R.

[Ginge R]

Fair point, thank you. I've never used it and am happy to defer to your insight. I suppose that whilst it might give you a false false or a positive false, it can't at least, give you a false positive.

That's the theory, anyway!