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Have my parents been scammed?
Comments
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VicMazonas wrote: »Wow! You guys have been incredily helpful. Thank you, all of you. Looking at the pdf provided, the scheme is a recognised one.
Well that's at least something. Hopefully it will be fine for your Dad. Always best to be careful though.0 -
VicMazonas wrote: »Wow! You guys have been incredily helpful. Thank you, all of you. Looking at the pdf provided, the scheme is a recognised one.
In which case, money shouldn't be going to your father's bank account - it should be going from the UK plan directly to the QROPS, first.Warning ..... I'm a peri-menopausal axe-wielding maniac
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Debt_Free_Chick wrote: »In which case, money shouldn't be going to your father's bank account - it should be going from the UK plan directly to the QROPS, first.
Perhaps the OP meant to his father's account after taking the pension benefits from the QROPS?0 -
Perhaps the OP meant to his father's account after taking the pension benefits from the QROPS?
Yes, that was what I meant
I'm going to be speaking to the 'rents in a couple of days, so I'll double check everything with them to make sure it is a QROPS they're doing, but from what I can see from the info they sent me, I think it is.0 -
If it is QROPS then there is scope (although QROPS can be damned expensive and most British expats dont need to do it).
Spain is also notorious for dodgy firms targeting expats. The expats think they get UK standards for advice and UK standards of consumer protection but they dont.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Well that's at least something. Hopefully it will be fine for your Dad. Always best to be careful though.
Don't count your chickens yet! It is no longer on the HMRC QROPS list as at 19.11.2012
Unless, my eyesight has gotten worse.
Reasons for this? No idea. Could be voluntary or could have been removed by HMRC. If the latter, that could be a problem.0 -
although firms using the term unlocking often leave a little to be desired in their marketing as they are not really unlocking a pension. They are just commencing benefits within the usual 55-75 age range and doing nothing specialist or different other than perhaps encouraging it when it shouldnt be encouraged.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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