Pension Advice

xylophone

My father was in receipt of Mineworkers pension

Your mother has the option of trivial commutation of a dependant's pension?



The dependant's pension is index linked and pays £4420 per annum?

The lump sum offer to extinguish her rights is only £29,000 (6.5 years' pension)?

I have personally known five people who have lived to 95+.

https://www.pensionsadvisoryservice.org.uk/content/spotlights-files/uploads/Death_benefits_commutation_SPOT014_V1.2.pdf
BUT for £18,000 read £30,000.

and

https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm073700

How a trivial commutation lump sum death benefit is taxed


https://www.litrg.org.uk/tax-guides/pensioners-and-tax/how-do-i-cash-my-small-pension-trivial-commutation

Check with the Scheme whether the above applies to this scheme and your mother's case.

Blackbeard_of_Perranporth

Reported go away

Geoffgt

Getting back to the subject of PCD, Hornbuckle, Quadris for which this thread was originally intended!!!
Any more news anyone, I can't find any updates on Quadris, if it still exists?
Also looks like PCD doesn't exist any longer? I tried sending an email to the admin lady listed in the Cyprus Companies website, saying I would like investment advice (!), but no reply.
Now that I'm 61 and getting close to retirement, I would really like to see some of that 70,000 pounds back!

AnotherJoe

Geoffgt wrote: »

Getting back to the subject of PCD, Hornbuckle, Quadris for which this thread was originally intended!!!
Any more news anyone, I can't find any updates on Quadris, if it still exists?
Also looks like PCD doesn't exist any longer? I tried sending an email to the admin lady listed in the Cyprus Companies website, saying I would like investment advice (!), but no reply.
Now that I'm 61 and getting close to retirement, I would really like to see some of that 70,000 pounds back!

If you were advised by a UK adviser a complaint there that would be your first route since these things are patently scams or as close to as made no difference.
If you sent your money overseas its likely gone for good

Home_Counties

I used to receive occasional updates from Quadris - specifically, from the controller appointed by the Isle of Man Financial Services Authority, but I haven't heard anything for months. I rather lost track of the cast of characters involved, but I remember that the class of share I am holding via my Hornbuckle SIPP is lower down the pecking order than some of the other investors in Floresteca.

The last communications from Quadris were very downbeat on the subject of the assets held by Floresteca (the teak trees). From memory, we were told that the likely value of teak when the trees mature is not going to be as high as was originally forecast. And we need to wait another ten years or so before the trees can be harvested and the fund becomes solvent at all.

So, it's not looking good for small investors like me.

I think PCD disbanded a long time ago - at about the time they were having their collars felt by the fraud squad. The main players were struck off the register of financial advisors in the UK and have slunk off elsewhere.

I haven't heard anything from the police regarding the criminal prosecution of PCD advisors in years.

Southeycapital

Hi Folks,

my firm offeres brokereage for alsl sorts of difficult assets and Quadris, Centurion EEA life are funds we cover.

In Quadris as many of you will have probably have guessed there is almost no chance of any recovery anymore. At one stage the firm behind the loan was willing to buy more shares in the fund,but they stopped purchasing a few years ago.

Good luck with your other investments.

Bluefield16

What advice can anyone give about what to do next if you have lost all your money with your investment in Quadris?

Geoffgt

AnotherJoe said:

Geoffgt wrote: »

Getting back to the subject of PCD, Hornbuckle, Quadris for which this thread was originally intended!!!
Any more news anyone, I can't find any updates on Quadris, if it still exists?
Also looks like PCD doesn't exist any longer? I tried sending an email to the admin lady listed in the Cyprus Companies website, saying I would like investment advice (!), but no reply.
Now that I'm 61 and getting close to retirement, I would really like to see some of that 70,000 pounds back!

If you were advised by a UK adviser a complaint there that would be your first route since these things are patently scams or as close to as made no difference.
If you sent your money overseas its likely gone for good

Input like this from AnotherJoe and similar mass contributors is not appreciated! In this case he didn't bother to check the message string to see that I have already gone thru the FSA and police. Obviously more keen to increase his contribution figure to compete with his fellow geeks!

Geoffgt

I have just completed a questionnaire form the police sent me who wish to progress the case against certain individuals in PCD. I have told them about this blog so that they can contact others if they need. I see PCD has a fancy lawyer looking after them now, you can find details if you Google "Operation Quaveo" under which name the police are pursuing this case.
So perhaps PCD persons will finally be prosecuted, but I doubt if we will recover any of our investments

Home_Counties

Update 12th November 2021:

The case against "Kelly and others" is currently being heard at Southwark Crown Court.