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12 | Referrals
Pension
pot
With more of you looking for new
sources of revenue, why not move
into the pension transfer market –
and earn money for doing next to
nothing! We quizzed Gatsby’s Senior Business
Development Manager, Andy Palmer, for more
information
How big is the pensions already have. Not necessarily with the
market? intention of new monies being paid into the
The pension market is a multi-billion pound funds, but as a minimum, to ensure the
industry with many interesting and often pension provider they have entrusted with
complicated facets. At a high level, the their funds, is performing as well as they
industry faces many challenges in terms of an should be.
ageing population, greater regulation and Many of us change our mortgage lenders
political intervention as well as a growing shift from time to time to benefit from better rates
by employers away from occupational and fees, so why should the same ethos not be
“company” schemes to workplace personal applied to our pensions?
pensions. The pension transfer market is one that
The current economic climate has also seen continues to grow steadily, offering benefits to
the value of our pension savings reduce, clients in terms of potentially improving their
compounded with the challenge of individuals retirement income, without having to pay
finding spare money to contribute to long further monies into a pension. As well as
term savings when they are probably more providing finance professionals with another pension
concerned about whether they will still have a source of income – a much needed one for themselves,
job next month or not. mortgage brokers whose business has been they will need
decimated due to the credit crunch. to have either full
Could it be a new source of FPC or full CeFa certificates.
income for mortgage advisers? What qualifications would an Not only will they need to have these
Never has there been a better time for finance adviser need to carry out qualifications, but they’ll also need the
professionals to encourage their clients to pensions advice themselves? relevant permissions from their network if
review what pension arrangements they In order for a broker to review a client’s they are an AR. This will normally mean
October 2009 Mortgage Introducer www.mortgageintroducer.com
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