Article Contents (Estimated Reading Time - 4 mins 23 secs)

Since Cameron James’ founding, we’ve seen the marketplace change dramatically.  However, even in a short time period, the industry can undergo significant change. 

Many of you may be relying on our YouTube video or other online information to help manage your UK pension, which is great. However, the pension transfer industry changes over the course of time. Whether it’s us or another reputable financial adviser, make sure you maintain an open line of communication with them throughout your advice journey. Even if you haven’t fully decided whether or not you want to pursue your CETV, simply begin an open dialogue with your financial adviser.

Watch my explanation about the UK pension industry overview throughout the years in the Cameron James YouTube channel below.

The Reason You Need To Speak With Your Financial Adviser

So, why do you need to speak with a financial adviser? This is due to the fact that many things can change within the pension transfer landscape. So, for example, what age you can withdraw your pension, what options are available to you, and what processes you may be able to follow. These things change on a regular basis as a result of insurers and market developments.

Also, keep in mind that everyone’s situation is unique.  In our digital age, we now have a plethora of options available to us, whether it is for investment vehicles, mortgages, insurance, or anything else, and it can be difficult to know where to begin.

We all lead busy lives and don’t always have time to consider all our options, especially when there are multiple factors at play. This is where an experienced financial adviser can come in handy. They have access to all available products and can assess what is best for you, so you not only get a recommendation tailored to your specific situation, but you also save a lot of time, so discussing it with someone who has dealt with a wide range of financial situations can often be beneficial.

As previously stated, everyone’s situation is unique. This could be due to life events such as purchasing your first home or planning for retirement. Each will require distinct short, medium, and long-term outcomes. When you consider that everyone’s risk tolerance is different, you can see that there are a lot of variables at work.

Understanding your needs allows your financial adviser to walk you through your options based on your specific situation. Remember though, the final decision is always yours.

The Changes in the Pension Landscape

The pension landscape in the UK is rapidly changing. Economic uncertainty, legislative change, an older population, and asset volatility all pose risks and challenges to pension plans. Trustees and scheme sponsors must make difficult decisions ranging from risk management to improving member engagement, and developing an investment strategy to managing DB or DC plans. 

Active Deferred Member vs. Passive Deferred Member

Currently, many DB schemes are closing, which means that members are becoming deferred members of the scheme. However, there is a distinction between active members and deferred members.

An active member is one who continues to accrue pension benefits through the scheme. They will continue to work for the employer whose scheme they are a member of.

A deferred member is one who is no longer accruing pension benefits in the scheme. In most cases, they will no longer be employed by the employer whose scheme they are a member of.

If you are unsure whether you are an active member or a deferred member, you are most likely a deferred member.

Keep in mind that when you are creating a data collection letter, it is recommended to select the correct membership type for your pension because the scheme will be asked relevant questions about your pension. However, if you do not, it does not matter too much because when you receive a response from your scheme, we will know what type of member you are. We can then ensure we tell you what additional questions you should ask the scheme.

The point is to simply make contact with a genuine financial adviser, whether through email, phone, or Zoom, and explain your situation.

Talk to Your Independent Financial Adviser (IFA)

There are very few financial advisers or final-side pension transfer advisers who will charge you simply to speak with them. This is not how we work at Cameron James. We’re here to educate you and assist you. We’ll help you to learn as you go. 

Get in touch with us through the button below; you can arrange a free consultation with us to understand who we are, to ensure you feel confident about our service before you sign any paperwork that commits you to paying any fees or charges.

Even if you aren’t sure yet, or if you prefer to remain anonymous, you can call our office and speak with one of our qualified financial advisers to gain a better understanding of your situation.


Dominic James Murray

My career in financial services began in 2010 during my Bachelor of Science (BSc) Undergraduate degree at Aston University in England. The degree required me to spend a year abroad working with an established organisation.

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