Standard Life Pension

thriftybabe

It is definitely a self invested personal pension plan. I have it in front of me from Standard Life. I have never filled out any A4 form (must have been too much bother for him) to say that I want my children to be beneficiaries. In addition any info we have requested him to send to our accountant he has not bothered to do!

EdInvestor

Thriftybabe

Are you only intetrested in commercial property funds?

If so, perhaps you don't need an IFA at all: the sector is not that difficult to understand and there's a fairly limited range of investment choices. Have you considered DIY/DYOR?

dunstonh

It is definitely a self invested personal pension plan. I have it in front of me from Standard Life.

The only protection that would come to mind would be primary or enhanced protection. Do either of those terms ring a bell?

thriftybabe

He mentioned that we would not get all of it however we would get around 90% of it. Sorry he did not mention anything at all about primary or enhanced protection. What do these exactly mean?

dunstonh

He surely cannot be using the FSCS limits as an excuse to churn the pension to another provider?!?

That is scraping the barrel. I think you have made your mind up now but just need the ammunition.

thriftybabe

You may see me on Crimewatch shortly! I am trying to be positive and build up a case against him when all I want to do is ?????!!!!!!!! Sorry not sure if I am allowed to say the things that I want to say!! I think i will use a ploy of saying that I have won a large amount of money on the lottery and am looking for advice on investing it - he will be over like a shot! Then present him with the evidence that I have against him.

EdInvestor

Sorry another couple of things he mentioned was that it was ring fenced i.e that if anything went wrong with the pension the government would back it.
He mentioned that we would not get all of it however we would get around 90% of it.

This only means that if Standard Life ( or some outside fund manager) goes bust losing your funds, you can get compensation.

But the bankruptcy of the provider is about the last thing that would cause a pension to "go wrong". Bad investment choices by the advisor, ,arket falls excessive charges, incorrect matching to risk, misselling (eg churning, as here) etc, are all much more likely to cause a pension to "go wrong".

thriftybabe

Having a great week this week! One of the companies we work for has gone into receivership and they owes a lot of money! Can someone cheer me up?

thriftybabe

We have received in a confirmation schedule today saying that our application has been accepted for a FutureProof Individual Pension Plan Application. The info that we usually get tells us about how much the FA will receive in commission and a 14 or 28 day get out clause. There is none of that however I suspect that this will appear shortly. If anyone has any idea how much commission an FA would get for this please let me know. I am still building my case around the FA.

thriftybabe

I phoned Clerical Medical and they have said that they will send me an illustration with commission charges shortly.