Pensions

[Ronald Bone]

Thanks....good advice. AND...no, one cannot take out the whole pension in one cash lump sum. = DANGER

[Partsman999]

Anyone dealings with Windsor Pensions, thinking about it many posts are old

[jamesmaughan]

Hi,
If you wish to move a UK pension I would agree you take a look at a QROPS. But take care there are a lot of sharks out there. Google the company you are thinking of going with.

I did mine with theses guys:

http://www.pension-transfers-qrops.com

And could not fault the service. The adviser I dealt with has been an IFA in the UK for over 20 years but now specialises in QROPS transfers.

Hope this helps

Ps forgot to mention they will beat any Broker fee out there for any QROPS provider Guaranteed..............

[tonym1]

Kestrel International mentioned earlier by a poster can now offer there own UK Government approved QROPS and there are few companies out there that do.

However from an investment point of view you need to be aware that you manage your own risk rating and a QROPS may well seem the solution at face value but do not underestimate the SIPP.

As someone posted earlier be careful who you choose to arrange a QROPS 100% tax free lump sum is not legal the max we can offer is 30% and there are conditions to that too.

If anyone wants to ask me anything, please feel free.


Tony GM Kestrel international

[jamesmaughan]

QROPS V Sipps

check this out......................

http://www.folkd.com/user/DrFinance

[tonym1]

jamesmaughan Wrote:QROPS V Sipps

check this out......................

http://www.folkd.com/user/DrFinance

That is a good article but it fails to point out that a SIPP can be arranged with a lot less money ie 20k at far less cost and the other fact that you have to have been out of the UK for 5 years and not paying UK Tax to qualify for a QROPS.

As we have both said it is a mine field and legislation is being tweaked and changed on a regular basis.
This is why we look at each case individually.

As a consumer you need to use due diligence to its extreme.

Tony GM kestrel International

[jamesmaughan]

tonym1 Wrote:

jamesmaughan Wrote:QROPS V Sipps

check this out......................

http://www.folkd.com/user/DrFinance

That is a good article but it fails to point out that a SIPP can be arranged with a lot less money ie 20k at far less cost and the other fact that you have to have been out of the UK for 5 years and not paying UK Tax to qualify for a QROPS.

As we have both said it is a mine field and legislation is being tweaked and changed on a regular basis.
This is why we look at each case individually.

As a consumer you need to use due diligence to its extreme.

Tony GM kestrel International

Hi,
there seems to be a lot of confusion about QROPS.

1. You can undertake a QROPS transfer if you are becoming non UK resident within the following 12 months. The five year rule is regarding reporting status and restrictions that remain in place for the first FULL 5 tax years.

2. Although most QROPS tranfer providers require a transfer value of around £100,000, HMRC has not set a minimum figure.

For a comparison of QROPS v Sipp check this out:

http://qrops.jimdo.com/2010/01/20/qrops-...on-choice/

http://pension-transfers-qrops.jimdo.com


There is also a link on the second link above to a Brokerage offering transfers to a QROPS if you have as little as £25,000. With the QROPS costing a flat £300pa.


Hope this is of help..................

[tonym1]

Two great links James it seems we are in the same business.

talk soon.

Tony.

[tess2013]

I would absolutely recommend that Windsor Pensions be avoided for QROPS transfers.

Seven months ago, my husband was told the process would take approximately 10 weeks. Time and again, we were given expected completion dates, and each time, these dates came and went with no transfer in sight.

Today, we were assured that we were receiving our transfer. It did not arrive, nor is anyone at Windsor returning our calls/emails.

We have begun to suspect we've been had, and that we'll never see our money at all. We currently have an appointment scheduled with legal counsel to discuss our options.

Avoid Windsor Pensions.

[tonym1]

Tess sorry to hear you are having problems with your QROPS if i can help drop me a line on my email . tony.mullaney@kestrelint.com or anthonymullaney@bellsouth.net.

it s indeed a mine field but I am pleased to say we have at Kestrel International had our very own QROPS approved recently.