What is a pension transfer?
You may leave a company (i.e. lay off, new job, retirement) that you have been contributing to a pension plan. What do you do with the pension?
There are usually options on what you can do with the pension.
What is the benefit of transferring the pension out?
In some cases the company can go under, and the pension could be lost. We discuss the Sears Canada pension plan.
Leaving it with a company that can possibly close up (for example if you have been laid off or required to retire early) you have the danger of the pension being reduced.
Having a Certified Financial Planner means having someone who has market knowledge, has seen the cycles, and has done the research, to help you invest your pension funds.