The Cofunds Pension Account – Take control of your retirement
The Cofunds Pension Account is a pension that accepts transfers of existing personal pensions including those containing Protected Rights, lump sums (minimum £5,000) and monthly savings (minimum £250) – all at no initial cost.
The pension offers access to over 1,600 funds on Cofunds, including the most popular with Chelsea clients such as Invesco Perpetual High Income, First State Asia Pacific Leaders, JPM Natural Resources and M&G Recovery. And what’s more, if you are an existing Cofunds user and invest in the pension, you will receive a half yearly statement detailing your ISA funds, Investment funds and funds held with your pension, enabling you to keep track of your funds much more easily.
Why choose the Cofunds Pension Account?
- NO set up fee
- NO contribution fees
- NO inactivity fee
- 0% initial charges on all funds, saving you up to 5.5%
- 0% charge for switching between funds
- Ability to consolidate – you may have personal pensions with more than one provider
- Likely to be a wider choice of funds available than within your existing provider
- Opportunity to invest in the Chelsea Easy Retirement Portfolios – carefully constructed by our Research Team
- Access to the Chelsea Fund Review – commentary on funds held by you on Cofunds with Buy/ Hold/ Switch recommendations.
A “free” pension wrapper- special offer
If you have over £50,000 worth of assets on the Cofunds platform and are looking to consolidate your personal pensions into one place OR you simply wish to make a lump sum pension payment of £20,000 or more you will benefit from a low cost pension that has no transfer fees, no initial charges on all funds on Cofunds and more importantly, no annual wrapper fee. All you will pay is the annual management charge of the funds chosen which means more of your pension working for you and less taken in fees.
If you are new to Cofunds and invest or transfer the equivalent of £50,000 into the Cofunds Pension Account you will also qualify the special offer.
Consolidate your personal pensions
Many investors have accumulated several private pensions over their working life, often managed by different insurance companies. In many cases these will offer a limited range of funds, often with higher charges and poor service levels. Why not transfer them to the Cofunds Pension Account via Chelsea and be able to monitor all of your pensions in one place? If the combined value of your personal pensions exceed £50,000 you qualify for the Special Offer listed above where you have a “free” pension wrapper.
Before you decide to transfer into the Cofunds Pension Account, do check that there isn’t a comparable investment choice for the same cost where you are, or indeed a stakeholder plan that may suit your needs better. In addition, please consider any guarantees you may be giving up by moving the plan(s) as well as any surrender penalties your current provider may levy. If you are still unsure of whether to make a transfer after making these checks give us a call on 020 7384 7300 to see if we can help.