News and Events PRESS RELEASE APRIL 2011 Medical Select early retirement strategy saves doctors thousands Specialist financial planning firm, Medical Select, has developed an early retirement strategy that could save doctors, dentists and other medical professional thousands of pounds. But the benefits are only available until the end of 2012. The strategy will enable doctors to retire at 55 without suffering abatement which normally results in only 75.4% pension being kept. Lump sums similarly reduce to 78% of their value at normal retirement age. The rules governing the transfer of capital values from occupational schemes to personal pension products are strict and full due diligence will be observed showing the balance of benefits and disadvantages which may accrue. “Currently only 50% of an NHS employee’s pension passes to their spouse under the 1995 regulations. We have established a means by which surviving partners may enjoy almost 100% pension”, explained Medical Select regional manager, Graham Allsopp. “At present when the spouse dies, there is no pension fund to leave behind, even if both deaths happen within a couple of years of the doctor’s retirement. This seems extremely unfair and so Medical Select has developed a financial solution that will keep a pension fund, which can amount to hundreds of thousands of pounds, within the family for the spouse and their children.” The strategy has been designed using pension funds which carry guarantees and which lock in capital growth resulting in secure incomes: you continue to grow the pension fund in equities and fixed interest without risk. The opportunity is also available to those who might wish to leave the NHS but are under 55, and who envisage a career in private practice, perhaps looking forward to phasing retirement. “While the strategy has been well-tested for probity and compliance,” Graham Allsopp comments, “it may not suit everyone and full consultation is extremely important before taking action”. “The opportunity ceases in 2012, so we recommend talking to Medical Select as soon as possible”. END The value of your investments and income from them can go down as well as up and is not guaranteed. Note to Editors Medical Select specialises in helping members of the medical and dental professions achieve secure and comfortable futures. As Independent Financial Advisers we work with clients both inside the NHS and in private practice, and use our expert knowledge of the NHS Pension Scheme and financial markets to help our clients achieve their life goals Extract from promotional leaflet: • We are totally independent, and we review the whole of the market • We specialise in financial consultancy for the medical professions and have more than 20 years experience in this dedicated area • We believe in forming a partnership with our clients: the more we understand what you want and what you value, the better we can advise you • We always act on your behalf, with your interests to the fore and we never offer advice without fully understanding your needs and your personal circumstances • We believe in conducting business ethically and all our advisers aim to uphold values of truth and integrity, justice, equality and community, peace and simplicity In 2010 Medical Select joined Moneygate Financial Services Ltd and it is currently enjoying a programme of expansion across the UK. The rules governing the transfer of capital values from occupational schemes to personal pension products are strict and full due diligence must be observed in showing the balance of benefits and disadvantages which accrue. Treating customers fairly directives must be followed scrupulously to show and ensure that the client is never pecuniarily disadvantaged and that s/he is in command of all the facts before s/he undertakes any transaction. Medical Select undertakes to comply with all such requirements fully and fairly and conducts a detailed assessment of clients’ circumstances, attitudes to risk and goals before initiating any proceedings. Contact: Graham Allsopp (T)&(F) 01284 787715 (M) 07903 924425 g.allsopp@medicalselect.co.uk Cadogan House, Fornham Road, Bury St Edmunds, IP31 2SG Medical Select is a trading name of Moneygate Financial Services Ltd. 1 The Bulrushes, Woodstock Way, Boldon Business Park, Tyne & Wear NE35 9PF. Moneygate Financial Services Ltd is authorised and regulated by the Financial Services Authority (Number 475973)