store first

dunstonh

My previous pension provider, Zurich, was performing at circa 3% with no g'tee of future performance.

There is no guarantee with Store first and you have likely underperformed what Zurich would have produced with their standard mixed equity funds since Jan 2012.

For the level of risk you are taking, 8% doesn't seem attractive.

when it comes for me to take my pension income I can do so by leaving the investment inplace and be governed by the GAD rate and not the derisory annuity rates on offer at present.

yes

Plus the whole investment can be willed to my dependants.

As an ex financial adviser you should know that the pension is outside of the estate and not subject to the contents of a Will.

mikepr

If I purchase an annuity with a Personal Pension, that annuity would only be g'teed for 5yrs(unless I took a lesser rate with added g'tees) With this arrangement, should I die 5yrs and 1 day the asset can be passed on 'willed'. I take onboard that if I die prior to retirement then the proceeds of the Personal Pension i.e. the fund can be passed on at that time, but that's not the case post retirement with an annuity as it will die with you.

dunstonh

should I die 5yrs and 1 day the asset can be passed on 'willed'.

No its not. The pension is not part of the estate.

The pension can pass to a spouse to continue paying the income but if there is no spouse and a sibling takes the pension then the asset would be liquidised and subject to 55% tax.

This isnt about annuity vs capped drawdown. This is about conventional investments vs unregulated, unprotected investments.

Ark_Welder

Xee wrote: »

No, its a separate "newly founded" company which rose from the ashes of the dylan harvey property investment scam. It is ran by Toby Whittaker.

The company that cold calls you is an umbrella company that goes under the name Sycamore Crown. They run the following companies who may cold call you about 8% improvements on your pensions:

Jackson francis (jacksonfrancis.com)
Sanderson Clarke (sandersonclark.com)
Capita Oak (Pension Liberation Company)
We Find Any Pension (wefindanypension.com)

They use these 4 companies to primarily cold call people from purchased lead source data. They treat their staff as badly as their customers also. They operated for the first 18 months without a data protection license also.

We find any pension are set up to make you believe they are doing you a free service, i guarantee that the outcome of this will be to refer to you one of the companies i mentioned above to invest into store first and store first only, you do not get multiple options of investment.

Each road agent receives around £100 commission per sign up, so they are always pushy.

I cant stress enough, please do not do business with this company, they are not legitimate.

http://companycheck.co.uk/director/908999515

STORE FIRST LIMITED Active - Accounts Filed Director 08/12/2010 - -
WEFINDANYPENSION.COM LIMITED Dissolution (First Gazette) Director 20/09/2012 30/06/2013

Wefindanypension.com Ltd, t/a We Find Any Pension, t/a The Pension Information Group

Published: 25/07/2013 We (the Financial Conduct Authority – FCA) have published this statement today in order to warn investors against dealing with unauthorised firms.

http://www.fca.org.uk/news/warnings/we-find-any-pension

lamb1102

Ark_Welder wrote: »

http://companycheck.co.uk/director/908999515

STORE FIRST LIMITED Active - Accounts Filed Director 08/12/2010 - -
WEFINDANYPENSION.COM LIMITED Dissolution (First Gazette) Director 20/09/2012 30/06/2013


http://www.fca.org.uk/news/warnings/we-find-any-pension

If that doesnt put you off then you're going to do it anyway.

dunstonh

I hadnt realised the FCA had issued a consumer warning against them. There was a thread here about them not too long back.

golmaal

Hi there.

I've got three pods totalling 51k. Rental being received on a quarterly basis. Received £2k so far.
Will see what happens after yr2.

BR54

Take a look at this link.
https://www.duedil.com/director/916595035/toby-scott-whittaker/directorships
Toby Whittaker has been a director of over 50 companies with the majority closing down after 2-4 yrs. The ones that are still active have a book value of over -£20million. That means the difference between assets and liabilities. They are collectively £21 million pounds in debt. Another 3 or 4 of his companies are about to go under as well as they have had a proposal to strike off this month.

One of his companies went under owing £100 millionpounds and Pannones solicitors were starting a law suit against them.
He was investigated by the HMRC last year and another company was investigated by the FSA.
Love to know where They get this £1 billion from!

Is that cows? is it pigs? ah no its Bull....t

savyinvest

CannySaver wrote: »

Not sure stupid is the word, perhaps not fully researched would be a better description

Yes, if the £34k grows by 8% a year, you will have a larger tax free lump sum, you can't argue against that....but....

1. Are you saw it will grow at 8% a year and then the predicted rates thereafter? How much research have you done? Who are providing the guarantees? I did my research, which almost went as far as visitng one of the sites and didn't invest, how much have you done or just fallen for the sales patter

2. And probably most imporantly, what is the tax free lump sum from the final salary scheme? This might still be higher than the tax free lump sum from the SIPP, you have to compare what you are moving to with what you had.

Have you had projections from your current scheme showing the income in retirement and the tax free lump sum (it isn't as simple as taking 25% of the fund value from a final salary scheme and it will get rerated each year).

Seek advice, or just don't do it, there is no way you will transfer the scheme and not live to regret it, irrelevent of the investment (Store First or otherwise) you choose.

The Canny Saver

as you never invested i find it hard to understand why you are so against store first , i have been invested for 3 years i received 8% for the first 2 years and now have a 2 year fixed return of 10% . i also notice you are trying to push people into your own products and you have a hidden agenda . i dealt with store first through one of there master agents , made payment direct to store first and dealt with there solicitors . this investment into store first has out performed 80% of what is in my current portfolio . overall it is a good safe investment , if BP was to go under my shares would be worthless , if store first ceased trading i would still be the owner of the store pod which would still have commercial value . and store first in year 5 through the buy back scheme will buy the store pod back from me at the price paid regardless of commercial market conditions . if your so canny name me one investment were your funds are certain to not depreciate in value ? within alternative or stock investments .

savyinvest

in regards to the fca or fsa as people still refer to them as , it is their job to notify people if they are not regulating a company . it does not mean anything , just that the company operates in a market they do not regulate . i contacted them directly . store first is covered by uk laws and regulations as general practice . i am happy with my returns and the service i have received from store first , i have been to see the store pod i have tittle deeds for and all is above board . when i first read these blogs from people who 'didn't invest ' it worried me so i did a lot more research to come to my previous conclusion that it is a good investment . if you do not know the facts and are a skeptical person , do some research instead of shouting your mouth and putting doubts in investors minds .