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Helping pension scheme members cover the cost of financial advice.

19 May 2017

Man and woman talking

We’re pleased to announce a new facility designed to help your pension scheme members cover the cost of professional advice from their pension pot without having to draw on other savings.

The introduction of this service directly supports the Financial Advice Market Review’s call for “advice for all.” It comes hot on the heels of Unbiased research  suggesting 34% of people who arrange a financial product themselves without professional advice later regret their decision.

In order to qualify, the advice must be provided by a regulated firm and relate directly to their workplace pension or its benefits, for instance:

  • transfers in
  • single lump sum contributions
  • investment advice
  • tax planning
  • retirement options

The deduction of any such payments will not affect the percentage of tax free cash to which the member is entitled.

The facility applies to the WorkSave Pension Plan only.

You can download the guide and the application form:

Facilitated adviser charge guide (PDF: 44KB)  

Facilitated adviser charge application form (PDF: 56KB)  

In addition, we have provided some wording which you may wish to use as an internal announcement to your scheme members to make them aware of this new facility -  Facilitated adviser charge suggested wording (DOC: 72KB)  

For more information, contact your usual Legal & General representative.

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