Pension Transfer Specialist.

Helping you preprare for the next season of life.

 

Kevin O’Neill - Chartered Financial Planner.

Determining the right plan for your journey.

 

Pensions. Investments. Tax Planning.

Real financial freedom & peace of mind.

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Welcome to O’Neill financial services. As a pension transfer specialist providing the Independent Financial Advice of our Chartered Financial Planner, we exist to bring simplicity, flexibility, and technically proficient advice, to help you decide what is the best way in which you should finally draw your pension.

Our advice, will always be provided in writing,
and prior to you making any lasting decisions.

O’Neill Financial Services

How We Can Help

Perhaps you are thinking about a pension transfer, or maybe you need expert financial advice on your estate, about tax planning or income protection. Here are just some of the areas where we can offer assitance:

Financial Planning

Is your dream to retire early? Or perhaps to enjoy four holidays a year once you are retired? Whatever your goals, our advisers can help you devise a realistic financial plan to help you achieve them.

Trusts & Estate Planning

Are you looking to ensure your property and assets respect your wishes after your passing? O’Neill Financial Services give you the tools, knowledge and strategy you need to secure your wealth for your beneficiaries.

Life Cover

It is vital to protect your family’s welfare in the event something happens to you. Our advisers can help you ascertain the best plan for your needs, helping you financially protect yourself and your family.

Business Services

Whether you need advice on share protection, directors’ and staff benefits or pensions and capital, our advisers can help you devise a strategy which increases efficiency and funding for your business, associates and employees.

The Financial Conduct Authority does not regulate Estate Planning, or Tax and Trust Advice.

About Us

O’Neill financial services is managed day to day, by Kevin O’Neill, an experienced Independent Financial Adviser(IFA), with many years’ experience.

Kevin has gone on and further qualified for the Gold-standard title as a ‘Chartered Financial Planner’ in 2010. In addition, and through the special permission of his Network, Caerus Financial limited, he holds the Financial Conduct Authority (FCA) designation of “Pension Transfer Specialist”.

Kevin is in one of the minority of UK financial advisers who specialises in Occupational Pension Scheme Transfer advice. He has two children aged 12 and 10, owns an energy sapping cockapoo, and enjoys a round of Golf, but ‘only in the sunshine’ !.

Kevin O’Neill APFS

Chartered Financial Planner

Brian O’Neill

Office Manager

Family Run

Kevin is ably supported by his Office Manager and brother as it happens, Brian O’Neill. As our Manager, Brian ensures the smooth running of the office, extremely important where your scheme has often imposed a tight deadline (often 3 months), by which time you must decide and respond. Whilst we are used to it, and work every day with these deadlines, we know from experience, this can be an extremely anxious period for you, and endeavour to ensure you are regularly provided with progress updates as we go.

I was recommended to Kevin by my IFA as I wanted to transfer my pension. Although I
thought my transfer was quite straightforward, Kevin had to deal on my behalf with a pensions company that were difficult to say the least. Kevin was patient but tenacious with them while keeping me updated on progress. He was responsive to my questions and avoided using jargon. If I needed things explaining more than once he was happy to do that. If you are looking to transfer your pension I can highly recommend Kevin.

Jacki

Kevin gave me indepth and unpressurised pension advice. His detailed explanations of all my financial options that were relevant to my personal circumstances were extremely clear and detailed. He was more than happy to answer any questions I had no matter how trivial. I am comfortable with the decisions that I have made and, due to Kevin’s patient, friendly and
approachable manner, I feel that I could contact him again anytime for further advice if my situation changes.

Pamela from Essex

I had a Final Salary pension scheme with my previous employer and wanted to investigate the
possibility of transferring this pension. I approached Kevin for his expert advice and, at the
conclusion of his assessment, I felt that I had all the necessary information to hand with all the pros and cons clearly explained. This comprehensive detail gave me the comfort to make an informed decision. During this entire process, I always felt comfortable with Kevin and never felt under any pressure to make a decision. His patience, expertise and professional advice helped me navigate through the minefield that is Final Salary pension transfer!

Nigel from Colchester

My regular financial adviser suggested using Kevin to provide the independent advice on how to best use my pension pots. Kevin worked closely with me to understand my finances and future plans then tackled the various pension administrators/companies to get further information. This was not as easy as I would have assumed but both Kevin and Brian kept at it until matters reached a successful conclusion. I was fully informed as to the progress of their work through emails and phone calls. The financial report produced by Kevin was comprehensive and clear, just what I was looking for. This gave me the confidence to go forward with the pensions options that were considered most suitable for me.

Gerry from East Sussex

We just wanted to let you know how happy we are with the work that you did for us concerning the transfer of our final salary pension. We still pinch ourselves every month when the payment comes through. We must admit we didn’t realise how much work was involved until we had the report back and are thrilled with all that you have done. Regards

Glyn & Dawn – Stoke on Trent
Pension Transfers

The Pros & Cons Of A Pension Transfer

A final salary / defined benefit pension offers you an inflation-proof, lifetime income in retirement which is guaranteed, and includes benefits for your spouse. You need to be aware, therefore, that transferring out of this scheme, will mean you no longer have access to these benefits.

The 2015 pension reforms however, have led many people to deem it worthwhile to transfer their FS / DB pension. The following is a list of pros and cons of a pension transfer which people should consider:

Pros:

While there is a Government sponsored Pension Protection Fund available, should your underfunded employer scheme collapse, transferring to your own private protection could potentially, better protect its value.

Cons:

You will forgo a lifetime, guaranteed scheme pension based on your final earnings, and any guaranteed annual increases, providing Inflation protection – these increase rates will vary from scheme to scheme.
Having your own personal pension might give you more flexibility than your final salary arrangement, depending on the rules of the scheme rules which we would first investigate. This could however, allow you to retire earlier, later or not at all if you so choose.
You will surrender security for your spouse and dependants, who would then lose their right to any guaranteed dependants pension, should anything happen to you. Typically, 50% of your pension.
Creating your own pension pot by transfer, could be valuable to you If, under your employer pension Scheme rules, you had NO qualifying ‘dependants’ entitled to anything following your death e.g. If you are unmarried and/or had no children.
It will have to be invested in stock markets to some extent, which can be volatile. The value of your money could be severely affected or even wiped out in a crash. One must first be sure you can afford to take that risk, and invest the proceeds wisely!
If you are in poor health, and perhaps your life expectancy is abnormal, transferring could be a way of protecting the entire value of the scheme pension, where otherwise, just a proportion may (or may no)t, be paid out to your dependents on your death.
Transferring out of a Defined Benefit / Final salary pension scheme, is unlikely to be in the interests of most people remember.

If you are considering a pension transfer, then speaking with a qualified financial adviser can help you clarify your thinking, and identify your best options. Get in touch today to find out if a transfer is right for you.

Pension Transfers

What’s Involved In A Pension Transfer?

The Pensions Schemes Act 2015, states that any Individual with a Defined Benefit fund more than £30,000 must seek advice from a suitably qualified advice firm.

Need to know more about what’s involved with a pension transfer? It’s more straightforward than you might think. Watch our short video here, explaining how the process works.

You – participate in a cost-free, Fact-Find meeting with us:

During this first stage, we determine what it is that you, and maybe your spouse/partner, want out of your retirement. Together, we look at what that’s likely to cost, and whether your goals are realistic. We also consider when you need access to your pension funds, conducting a FULL financial review to determine the strategies needed to make your ‘Retirement Dream’ happen.

WE – can request your CETV, if you don’t already have one:

This is where we formally make a request for a Cash Equivalent Transfer Value letter from your scheme. These often have a 3-month window, in which you must assess, decide and then submit your final paperwork. So time is usually of the essence. However, please don’t worry about the terminology in these letters. We can explain all of this as we go forward.

WE – then undertake and prepare a TVAS for YOU:

Using information supplied by your pension scheme, we then complete a Transfer Value Analysis (TVAS). We simplify it all for you. Essentially, this produces a comparison of benefits: those of your scheme(s), and those of your own personal pension scheme. From here, we can better discuss whether transferring your scheme best meets your goals and circumstances.

WE – research your options:

At this point, it will be necessary that you understand your options for extracting your new income streams in retirement. This might include for instance, retaining your scheme pension, or transferring its value. It might involve buying your own private annuity. Again, we will walk you through all of this, always linking the pros and cons of each option to your own personal circumstances and objectives.

Recommendations:

Once our research and analysis is concluded, we will recommend whether to remain in your scheme, or the best way to transfer out. Please don’t feel surprised or disappointed if we do NOT ultimately recommend a transfer to you. If we think your scheme is best left as it is, we will tell you so. However, we will also demonstrate and explain why we believe that to be the case.

ALL in agreement

We will proceed to liaise with your Scheme in order to obtain the monies from them. We then place these funds in your own personal pension/Drawdown plan. At this point, once the money is received, you are free to do with it as you please – It’s YOURS.

Request A Callback – Interested in talking through how a pension transfer might meet your objectives and help you achieve greater flexibility in retirement? We’d be delighted to speak with you.

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June 14, 2018 in Financial advice

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Below is an Overview of final salary pension schemes in the UK, by Kevin O’Neill. Kevin is a Financial Planner and Pension transfer specialist at O’Neill Financial Services a trading style…

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April 24, 2018 in Latest news, Pensions

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Enquiry Form

Request A Callback – free and without obligation.

Interested in talking through how a pension transfer might meet your objectives and help you achieve greater retirement flexibility in retirement? We’d be delighted to speak with you.

A: East Building, 5300 Lakeside,
Cheadle Royal Business Park, Cheadle,
Cheshire SK8 3GP
T: 01260 272746
E: info@ofs.financial