At Cameron James, we understand that transferring a defined benefit (DB) pension can feel complex, especially for non-UK residents. Many clients take the DB pension transfer process seriously, and we are excited to guide them every step of the way. One client in France approached us seeking clarity on UK DB pension transfers. We explained the FCA’s regulations, the role of UK-based specialists like PAS, and the function of Novia Global and Novia Financial in managing International SIPPs. By understanding the risks and benefits of transferring a DB “gold-plated” scheme, our client could make a fully informed decision.
How Cameron James Handles DB Pension Transfers for Non-UK Residents
Cameron James follows a clear, structured process for DB pension transfer. First, we implement a “Two-Adviser Model” to ensure every stage receives expert attention. Since our client in this case is a non-UK resident, he required EU-regulated transfer advice. A UK FCA DB Pension Transfer Specialists cannot provide this advice.
PAS prepares the DB Report and advises on whether a transfer makes sense, but they cannot execute the transfer themselves. We take over at this point, providing fully regulated advice under our EU licence. This approach shares the responsibility. PAS confirms whether transferring from the scheme is suitable, while we manage the ongoing investment of the funds according to the client’s goals.
Throughout the process, we focus on what matters most. Whether the guaranteed DB payment is essential, or whether the client benefits more from flexibility, control over investments, and the ability to pass on 100% of the funds to beneficiaries. With CETVs currently high, the critical yield required to match DB scheme benefits via an annuity at age 65 is not excessively high, making the transfer an attractive option for many clients.
Cameron James' Fees Explained
At Cameron James, we don't use any funds with initial fees. Instead, 80% of our portfolios are low-cost index funds (iShares and Vanguard), with 20% low-cost Active funds like Baillie Gifford. Our Ongoing fees are taken directly from the SIPP itself, and there are no other charges provided to Cameron James.
The Initial DB Report fee is the only fee clients have to pay if they decide to start the advice process. Clients only pay Cameron James when they decide to proceed with the transfer.
Furthermore, as part of our initial advice process, another key to note is that we put together a Pre-Advice Confirmation, a type of unofficial suitability report that highlights all the regulations, options, and SIPP providers, investment portfolio, fees etc. We provide the report before clients sign up for the initial DB Report, giving them a complete, transparent snapshot of the process and what would happen if they choose to proceed with a transfer.
Why Cameron James?
Cameron James is not a Discretionary Fund Manager (DFM). All of our investment advice and portfolio management must be approved first by the client. We do not refer to white labels or use any internal Cameron James products of ‘model portfolios'. We buy funds at cost price and pass them onto our clients without entry fees, loading fees, or exit penalties.
At Cameron James, we are only reimbursed from our clients. Doing this removes any bias or conflict of interest when selecting our partners like PAS, Novia, and your underlying funds. The likes of Baillie Gifford and Scottish Mortgage are typically for active and iShares, Vanguard, and BlackRock for passive.
We receive remuneration only from our clients, and we deduct fees once the work is complete and your portfolio has arrived in your SIPP. Cameron James does not charge in advance for advice. We can pay your FCA DB fee, which can then be deducted from your eventual transfer value. This is the most tax-efficient option and is popular with clients.
Our Main Objective
At Cameron James, we focus on building long-term relationships based on trust and transparency. We give clear, unbiased advice on DB pension transfers for non-UK residents. We exclusively work with regulated partners like PAS and Novia to manage your pension effectively. If you hold a UK DB pension and are considering your options abroad, speak with our expert IFAs today.
Book Your Free Consultation now to understand your DB pension transfer options and secure the best outcome for your retirement.