PENSION TRANSFER GOLD STANDARD

Grove Pension Solutions has adopted the Personal Finance Society’s Pension Transfer Gold Standard initiative.

What is the Pension Transfer Gold Standard?

The Gold Standard is a voluntary code of good practice for Safeguarded and Defined Benefit Pension Transfer advice, based around a set of principles. Financial advice firms can adopt and promote this standard by adhering to these principles, so consumers can be more confident they are dealing with a firm that is going beyond minimum requirements when giving financial advice and a personal recommendation as to whether to transfer their pension.

PENSION TRANSFER GOLD STANDARD

The nine principles

  1. Helping clients understand when advice is appropriate
  2. Ensuring advice given supports the clients overall wellbeing in the context of their stated objectives
  3. Ensuring client understanding and acceptance of all charges
  4. Ensuring the most appropriate and updated technical skills are applied
  5. Transparent management of Conflicts of Interest
  6. Helping clients understanding the cost of transferring benefits
  7. Avoiding unregulated investments and introducers
  8. Transparency in advice processes and outcomes
  9. Promoting the Consumer Guide to the Pension Transfer Gold Standard

Why has The Pension Transfer Gold Standard been created?

The Gold Standard is primarily about empowering consumers and setting clear expectations of what to expect from financial advice. The success of this initiative will ultimately be measured against the practical extent to which it helps consumers understand what they should expect from good quality advice, how to recognise it and how to access it.

In recent years the increased complexity of the pension landscape has continued to present challenges to financial advisers and consumers alike. Whilst many consumers have been positively affected by the introduction of pension freedoms, it has also resulted in unintended and negative consequences, particularly in respect of defined benefit pensions.

PENSION TRANSFER GOLD STANDARD RESOURCES

As part of our responsibility for being apart of The Transfer Gold Standard initiative, we give clients better understand of good advice, so they can be confident they are dealing with a firm that is going beyond minimum requirements when giving financial advice.

Downloads

Here you will find some useful information when making your decision about transferring your pension:

1. Pension Transfer Gold Standard Consumer Guide

2. Alternatives to Early Pension release

3. Defined Benefit & Safeguarded Benefits Pension Schemes – an explanation

All downloadable documents below are provided in PDF format and require a PDF viewer such as Adobe Acrobat to open them.

Video Guide

Independent video guide on the risks of Defined Benefit Pension Transfer.

PENSION TRANSFER GOLD STANDARD CONFIRMATION

As part of The Transfer Gold Standard initiative we need clients to confirm they have read the three guides and watched the educational video. Please fill in the form to confirm.

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Testimonials

I found your service first class with friendly polite staff. All questions I had were answered. It was nice to be with a company that did not hard sell. Most refreshing.

Mrs JC, Warwickshire

Thoroughly recommended, nothing to much trouble, always there to give advice, always dealt with the same person at all times. Very glad that I used this company.

Mrs JA, Queenborough

The advice I received was excellent. Each time I didn't understand something I made a phone call. I was never felt to feel like a nuisance (which I know I was!) and everything was simply explained to me. Thank you - what a wonderful team!

Mrs UA, Wigan

I was in a situation and found that Grove Pension Release came to my rescue and appreciate everything they did for me.

Mr GGB, Chicester

At all stages I was completely satisfied with the help I got. At every stage I was made aware of any pro's and con's of pension release.

Mr JE, Maidstone

I found the service very good, everything was explained in simple English, which made it easy to understand. The advisor was polite and very helpful.

Mrs SB, Selby

Very satisfied from start to finish with the quick & professional service.

Mr HB, Lancaster

From the moment I went on to the website with Grove, right to the end of my pension dealings. They've acted in a very professional way with myself, I would recomend them to any person who - like me - needs much needed help on pension release. Well done to everyone at Grove, you deserve a pat on the back, thank you.

Mr KW, West Bromwich

I had no pre-knowledge of what would be involved in pension release so I was pleased by the professionalism and friendly service offered by your organisation, things were explained in a clear and concise way so I would have no hesitation in recommending your services to other people.

Mr KH, Sunderland

GROVE SUPPORTED CHARITIES

Grove actively support the following charities and institutions

Livability
Libra
Bromley Mencap
Aquaid