Can SYPA give independent financial advice?
The answer, in short, is no and has to be for good reason.
SYPA administers a particular pension scheme, the LGPS, and this is where our expertise lies. We are not independent nor are we licensed under the Financial Service Act. We can provide information about the rules and options within the Local Government Pension Scheme to assist you in making decisions associated with your pension and we run pension information services in the four districts to do just that.
What we cannot do is comment or offer advice on the quality, suitability or performance of financial products that are not related to the LGPS nor the people who might be licensed to do so. However the pension scheme often presents complex options and then there are issues surrounding paying extra contributions and how to invest pensions benefits once they are in payment. Recognising that members are often confused and concerned about what to do for the best we have sourced the following website:
With over one million visitors a year, unbiased.co.uk is the UK's biggest and most versatile search for regulated and independent advisers. They enable consumers and businesses to find the best financial and legal advice from a choice of over 24,000 IFAs, financial advisers, mortgage brokers, solicitors and accountants. They also make it easier to find the right advice by providing information, insights, tools and other resources to facilitate consumer choice.
The unbiased.co.uk website launched in 1998 and rapidly became the UK’s leading adviser search. The majority of advisors listed offer the first meeting at the advisors own cost. Alternatively you can visit the Money Advice Service website which provides free, unbiased, and independent advice on when and how to choose an Independent Financial Advisor.
*The views of the Independent Financial Advisors are their own and SYPA accepts no liability for any service or advice that you receive. Any contractual arrangement is between the member and the financial advisor.