Personal Pension Advisor

[Maydup]

I contribute to a group pension and my employer matches it. They also provide a pension advisor to manage the scheme for us all. He's perfectly efficient and personable, but I never feel like talking to him. Once a year I rush in and out in work time and he tells me how its performing and where we shoukd invest.

Its all going reasonably well, but my question is .... when I decide to draw some or all of the money or need help deciding, can I use an IFA or is it likely to be only him and his company who can manage my fund?

[woofgang]

What do the t and c of the pension say?

[Maydup]

The pension is with Company A and makes no mention of Company B who is simply contracted by my employer to broker and manage the pension for us all. If the employer choses to change broker the pensions remain with Company A.

Does that make sense?

So do we think there is any reason I can't by-pass the broker and manage my pension though someone else?

[woofgang]

but do the T and C say anything about having to use the broker which has been chosen and retained by the company?

[Maydup]

No.

[Maydup]

The broker is retained by my employer not the pension provider. His service agreement is reviewed each year and if he was not reappointed another broker would step in. The T&C makes no pension if him or any other named third party.

[woofgang]

well I think you may have your answer then. When you rush in and out, do you have the opportunity to say to him that you don't want him to do what he suggests or does he just tell you what will happen?
I think though that the only way to be sure is to ask.