Rollover your retirement monies
into a DIY Retirement Fund...

Rollover is where you move your money from one accounts into a new one, and often where you are consolidating your monies into one account from many.

Where it is used for a DIY Retirement Fund what is normally happening is that you are taking money from a number of small retail retirement funds and putting them in one DIY Retirement Fund. This may be for just one person or sometimes where a number of people below to one DIY Retirement Fund.

Why do people normally Roll Over?

The main reason is to consolidate, and by consolidation get better economies of scale. One fund has one audit fee rather than 4 or 5 if you have that many retail funds. Joining with others in one DIY Retirement Fund share the costs. Getting a bigger lump of money allows you to buy bigger things such as property, shares etc. After the cost for a larger size deal is only a little more than a small size deal.

The next reason a lot of people rollover is to take control of their retirement savings via DIY Retirement Fund.

How can you rollover?

There a normally a simple set of rules to allow you to do this. If you are using a Financial Advisor they should be able to help you. But the process is straightforward. Write to the people who have your money, normally a pension fund. Ask them how much is in the fund, what are the criteria for getting it out, how quickly that can be done if you meet that criteria and what type of appeal process is there in place.

How do you get your money out to rollover?

Once you have found out this info then you can take the actions required. Make sure you understand and of the penalties are. Some companies will charge you a lot if they have not had your money for some time. Remember everything is negotiable.

Most often all you will be required to do is to show that you have the correct DIY Retirement Fund set up and write a letter indemnifying them from any future claims, this covers them from you losing all your own money. Then they just send you a cheque to pay into your own fund.

Rollover from Country to Country

It is possible to roll over from one country to another. Here it is advisable to use a Financial Advisor who has done this themselves or at least has done this of 5 to 10 clients. Learn more about how to rollover into a DIY Retirement Fund either in country or inter country.