Excessive charges and pensions advice.

[breamster]

Ok - just a quicky.

I have collected a number of works pensions over the years.

The FA giving me advice has recommended I transfer most of them to my current works pension.

1) For this service and advice his charges will be 3% of the fund value. A few £K. Is this a fair charge? Seems bloody high to me but is this typical?

2) Should I be consolidating them to my current works pension? I've no idea if I will be working here 2 years or 20 years to be honest? What other options should I consider?

I am mid thirties if that makes a difference.

Thanks in advance!

[breamster]

Thanks for the feedback.

I've done a little more background research and he is obviously taking the mickey.

I've just notified him that his services are no longer required!

Thanks all.

[breamster]

The Leaper said:

If your current works pension is sponsored by your employer why not speak to them and get them to assist you with organising all the transfers? You seem to be willing to make all the transfers based on the IFA's advice, so you could process everything yourself and with your employer's help. This would be "fee free".

R.

He was recommended through work. I'll do it myself I think- it doesn't look too hard.