are they ok

panny300

got a £32,000 frozen pension which i have been considering taking,lump sum and small pension.
within a minute of putting the phone down after asking who i am currently with for a projection, i received a cold phone call from a different company asking if i would like my pension looked at (don't know if it was coincidence) they said they would see if it was performing or if it could be invested better and i would receive a free evaluation,they mentioned a firm called one stop as well.
so i thought why not.anyway they came and they were from a firm called genesis investments,they asked me to sign a form giving permission to approach the current investment company for details,and sign to say they had asked me certain questions.
they said that depending on the details they get back they can guarantee a certain percentage over so many years,they only use overseas investments.
anyone heard of these companys,are they ok

dunstonh

got a £32,000 frozen pension which i have been considering taking,lump sum and small pension.

The term frozen only applies to older style final salary pension schemes. Yet you mention £32k as a value. That doesnt fit with final salary pension schemes. Can you clarify what type of pension it is?

within a minute of putting the phone down after asking who i am currently with for a projection, i received a cold phone call from a different company asking if i would like my pension looked at (don't know if it was coincidence) they said they would see if it was performing or if it could be invested better and i would receive a free evaluation,they mentioned a firm called one stop as well.

There are quite a few of these cold calling companies around. The callers are rarely FSA authorised and are not the firm that would do the review. They sell your details onto another company or they share the commission on the product. There are also some scams that operate as well in this area. So, you should avoid at all cost. If you want a review then use a local IFA of your choosing. Decent and honest FSA regulated firms do not cold call.

so i thought why not.anyway they came and they were from a firm called genesis investments,they asked me to sign a form giving permission to approach the current investment company for details,and sign to say they had asked me certain questions.
they said that depending on the details they get back they can guarantee a certain percentage over so many years,they only use overseas investments.
anyone heard of these companys,are they ok

There is no firm of that name on the FSA register and the fact they are offshore should put you on guard straight away. Virtually all the scams on pensions use overseas companies and are not regulated by the FSA. Scams tend to play to your greed to try and blind you from the obvious. One such method is to promise guaranteed returns of a high amount when in reality there is no such guarantee possible but by the time you find out the company has long gone and as they were not FSA regulated, you get no consumer protection. Worst case scenario is that you kiss goodbye to the pension outright.

SeniorSam

panny300 wrote: »

got a £32,000 frozen pension which i have been considering taking,lump sum and small pension.
within a minute of putting the phone down after asking who i am currently with for a projection, i received a cold phone call from a different company asking if i would like my pension looked at (don't know if it was coincidence) they said they would see if it was performing or if it could be invested better and i would receive a free evaluation,they mentioned a firm called one stop as well.
so i thought why not.anyway they came and they were from a firm called genesis investments,they asked me to sign a form giving permission to approach the current investment company for details,and sign to say they had asked me certain questions.
they said that depending on the details they get back they can guarantee a certain percentage over so many years,they only use overseas investments.
anyone heard of these companys,are they ok

I do hope you did not sign anything for them as it may be an authority to transfer your pension. If you did, cancel it and contact your pension provider to tell them to ignor any request from that company................... do that immediately.

Consult an Independent Financial Adviser

Sam