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Flora MaDonald

Pension Advice Required

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I've just had a phone call from some geezer, who seemed to know more about my pensions than me.

Anyway, the gist of his call was that he has noted I have a frozen pension and he wants to investigate it.

Anyone had this? WTF is it all about?

Edit to say - he confirmed it's a free service.

Edited by Flora MaDonald

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I've just had a phone call from some geezer, who seemed to know more about my pensions than me.

Anyway, the gist of his call was that he has noted I have a frozen pension and he wants to investigate it.

Anyone had this? WTF is it all about?

Edit to say - he confirmed it's a free service.

probably speaking about QROPS and taking your pension offshore which avoids (maybe) death duties on your pension if you die after 75

depends if you intend retiring abroad

good commission for these guys,

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probably speaking about QROPS and taking your pension offshore which avoids (maybe) death duties on your pension if you die after 75

depends if you intend retiring abroad

good commission for these guys,

Cheers, Euan.

Is it worth seeing him? He's adamant it's free, and I've nae got a Scooby about my pensions.

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Cheers, Euan.

Is it worth seeing him? He's adamant it's free, and I've nae got a Scooby about my pensions.

I'd still be very sceptical about any cold calls as others said.

If you're looking for something/info you'd maybe safer now doing your own research then initiating your own call/email to a known party.

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Cheers, Euan.

Is it worth seeing him? He's adamant it's free, and I've nae got a Scooby about my pensions.

Er, I don't think either of us will be living a comfortable retirement (in the unlikely event I make it that far...) on our Royal pension contributions.

Speak to teecee-, he knows his pensions.

Edited by Charlie Endell

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Flora, be very wary as others have said. Have a read about pension liberation on the pension regulator's website and if it sets alarm bells ringing re the call you took.

Very dodgy stuff.

Edited by littleboyblue

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I'd still be very sceptical about any cold calls as others said.

If you're looking for something/info you'd maybe safer now doing your own research then initiating your own call/email to a known party.

I think that's a good rule to apply in general.

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At your age there are little or no benefits from moving a company pension elsewhere.

If it's a "final salary" pension then to shift it would be financial suicide as it includes so many benefits.

If it's a " money purchase" scheme then it's about investment choice and this could be what our intrepid

salesman will target.

Remember the word frozen is often used but pension benefits grow even when you no longer work for that company.

BEWARE.

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At your age there are little or no benefits from moving a company pension elsewhere.

If it's a "final salary" pension then to shift it would be financial suicide as it includes so many benefits.

If it's a " money purchase" scheme then it's about investment choice and this could be what our intrepid

salesman will target.

Remember the word frozen is often used but pension benefits grow even when you no longer work for that company.

BEWARE.

Wise words - I knew you were the go-to man for pension advice.

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At your age there are little or no benefits from moving a company pension elsewhere.

If it's a "final salary" pension then to shift it would be financial suicide as it includes so many benefits.

If it's a " money purchase" scheme then it's about investment choice and this could be what our intrepid

salesman will target.

Remember the word frozen is often used but pension benefits grow even when you no longer work for that company.

BEWARE.

Good lad, tee-cee. :ok:

How would he know I had a pension frozen?

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Good lad, tee-cee. :ok:

How would he know I had a pension frozen?

Lists of names are compiled and sold from so many different sources.

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Er, I don't think either of us will be living a comfortable retirement (in the unlikely event I make it that far...) on our Royal pension contributions.

Hold on a minute - are you 2 ex Royal Life punters?

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Hold on a minute - are you 2 ex Royal Life punters?

Aye, to think we used to punt financial products like endowments and pensions...

:wink2: Fear not, we were on the non-Life side of the Royal.

Edited by Charlie Endell

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Aye, to think we used to punt financial products like endowments and pensions...

:wink2: Fear not, we were on the non-Life side of the Royal.

Ah, I know a few guys that were Royal Life :ok:

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At your age there are little or no benefits from moving a company pension elsewhere.

If it's a "final salary" pension then to shift it would be financial suicide as it includes so many benefits.

If it's a " money purchase" scheme then it's about investment choice and this could be what our intrepid

salesman will target.

Remember the word frozen is often used but pension benefits grow even when you no longer work for that company.

BEWARE.

Any opinions on Investment Bonds (offshore ), if yearly charge is 0.85% and being able to get funds invested @ Net Asset Value ?

Now this might be the bullshit part - do funds genuinely charge 3-5% on investment, and investment platform (RL360) are giving a volume discount getting into funds @ say 0.8% ?

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Cheers, Euan.

Is it worth seeing him? He's adamant it's free, and I've nae got a Scooby about my pensions.

Likely not - end of day they are looking to sell you something although if i guess if inside UK, then will be agreed fee so no back door commissions etc - unless they think you are abroad

One interesting thing i read recently is some pension administrators, increase your yearly fee once you become an ex employee, and only give discounted yearly fee to current employees of a pension plan - i was looking at SIPPS other day and was surprised how low the platform fee was

I'm just commenting on what i have been scratching at, since been looking at taking my pension offshore

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Any opinions on Investment Bonds (offshore ), if yearly charge is 0.85% and being able to get funds invested @ Net Asset Value ?

Now this might be the bullshit part - do funds genuinely charge 3-5% on investment, and investment platform (RL360) are giving a volume discount getting into funds @ say 0.8% ?

Not sure about going direct to RL360 but using their Offshore Bond with a uk platform to hold the assets you could be paying as little as 0.35% pa for the wrapper and be getting in to all funds 'clean'.

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