Do you think I need to pay a company to transfer my funds?

Hi I'm 61, have around £200k of pension fund in two main non-work funds. I aim to retire at 67. I've £50k in a work pension and still contributing. I'm in talks with a recommended ethical advising small company who would charge £2k to transfer the two funds and then advise onwards. Given I'm not confident in pensions, plus understand the company gets good returns, I think it's a cost I have to bear. I'd be interested to hear your thoughts.

Hi Liz,

Thank you for your question. I feel like the fee's are all relative to your circumstance, but £2,000 on a £200,000 seems fairly typical (1%), however, you still have an opportunity to negotiate.

If there is also an annual 1% ongoing fee on an annual basis, again this feels fairly typical if it includes cashflow planning, life planning, portfolio rebalancing, tax optimisation, annual review meetings etc.

Best wishes.