Alaric wrote:CautiousPaul wrote: I'm looking to transfer one of my defined contribution pension pots into a SIPP. As it will be over 30K am I obliged to get an IFA involved ?
It is likely to depend whether the defined contribution scheme had any bells and whistles attached. If it was an off the shelf SIPP or Personal Pension, then not. If it was something concocted by a former employer then possibly. Features that can have a hidden value that you would be required to take advice on would be any guarantees such as rates for conversion of funds to annuity, minimum growth rates for accumulation, or benefits not less than some previous scheme.
Thanks, Alaric. The existing pension is with a former employer and I'm pretty sure there are no extra benefits. I'll double check with the pension company, in any case.