I recently met a former client whose pension I had refused to transfer from a final salary scheme to a personal pension 30 years earlier – much to his annoyance at the time.
He delighted in telling me that he retired 10 years ago and, thanks to his company pension, was enjoying great holidays, playing golf whenever he wanted and still running his own car.
As we parted I felt a warm glow and could not help but reflect on how different his life today would have been had I taken the easy – and more profitable for me – route of arranging the transfer. He would definitely be taking fewer holidays, playing less golf and be reliant on his bus pass for transport.
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