Avoid this company as they are not transparent to its customers
My previous employer chose to use Wealth Financial Planning Jersey Limited to host their pensions for their employees. I was one of those employees and when I left the company, I tried to cash in my pension and they wanted £750 in charges (£250 for the Trustee company they use, and £500 admin charge by them!). They refused to give me a copy of my policy, so I could review their charges in black and white. I had to do all the leg work of filling out the paperwork to withdraw the money from their Trustee company they use, and they want a £500 admin fee! They said if you do not want to pay these charges, then your pension will be reinvested! i.e. not allowing me to take my pension. On my first contact with them, they never mentioned/detailed any charges before they asked me to deal directly with their Trustee company, and they never provided my previous employer of these charges neither to share with employees. Their Trustee company already charges me £120 a year! plus what they get on investments, any they want to charge another £250! I would recommend avoiding this company entirely as they are not transparent to its customers and their attutude is purely on how much they can charge you while letting you do all the work, rather then how they can help you maintain your pension fund.
By Nicholas De La H.