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

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

Mr HB, Lancaster

You were the only company to explain it (advice) to me in a way I could understand … I contacted several IFA’s and they were all very unhelpful. … I am delighted I chose Grove, very professional, polite company. Thanks so much!

Mr RM, Swindon

Grove made all aspects of the pension release process very clear and precise, and kept me up to date on what stage my pension unlocking was at. Very professional at all times.

Mrs MR, Glasgow

I found Grove to be very professional people and very knowledgeable. The way they dealt with my pension release was second to none.

Mr DH, Warrington

Definitely I would recommend Grove Pension Release to anyone as they give personal and friendly help to people who need help, where other companies don’t.

Mr MG, Stockport

After wasting so much time on sites belonging to “big players “. I selected an unfamiliar one belonging to Grove Financial and never looked back – excellent service and commitment.

Mr TJ, Surrey

A very professional, yet friendly and personal service. I would strongly recommend your company to anyone interested in pension release. Many many thanks to all your staff for a service second to none.

Mr HFC, Belfast

I looked around the internet for some time, all I looked at was very confusing to me. I then found Grove Financial and found it very easy to read and take in. I sent an email with a question to see the response. I had a perfect response in plain english. I was very happy to carry on with the excellent personal service.

Mr JB, Bristol

Found your service to be very professional. Your staff were polite and friendly ready to explain / clarify any query I had relating to release of my pension fund(s). Even went the ‘extra mile’ to update me via phone and text.

Miss RA, Kent

GROVE SUPPORTED CHARITIES

Grove actively support the following charities and institutions

Livability
Libra
Bromley Mencap
Aquaid