Lothbury Pension Administration?

DesperateDeb

Hi

Has anybody come across the above company? Would appreciate any information if you have.

thanks

debra

Aegis

Can't say I have. What context are you asking in?

DesperateDeb

My partner has been contacted them offering to 'buy' his three pensions that he is no longer paying into. He is now paying into the local government one. They have offered to 'buy' the pensions, but we can't find anything about them online which set off warning bells.

mania112

I may bit a bit shallow, but the fact they don't have an obviously findable website, doesn't bode well.

Linton

Google can help:

The company was incorporated in June 2012. They have a registered office at 33 Cavendish Square, London W1G 0PW which sounds fairly grand. The building provides serviced office space and is used by a wide range of what look like respectable customers.

Lothbury Pensions Administration are not registered with the FSA

A director Mr D Mack is also director of "Fat Cash Lending Ltd" and "Lothbury Administration Ltd". He is registered with the FSA and is classified as being "approved". Oddly his directorship was terminated on the 24th Sept this year but restarted on the 4th October.

There was one other director - Terence Rex Pritchard. He is also registered with the FSA but is classed as "inactive". He was a director until 4/10/2012. He seems to be well connected being a director of a number of other companies.

There are plenty of other companies with Lothbury in their name but as far as I can see there is no link with any of them. I cant find any evidence that LPA is active in any way - no web site, no adverts, no statement of what they do, no mention in the trade press etc etc. The only strange things seems to be why they should have an interest in "buying" pensions from your partner, cold calling if that's what they did, and their lack of FSA registration. And I am far from clear what buying someone else's pension means, unless its another term for cashing in a pension. You can find plenty of warnings about that in the thread near the top of this forum.

Aegis

DesperateDeb wrote: »

My partner has been contacted them offering to 'buy' his three pensions that he is no longer paying into. He is now paying into the local government one. They have offered to 'buy' the pensions, but we can't find anything about them online which set off warning bells.

Avoid. You can't sell pensions to someone else and reputable financial companies do not need to cold call to persuade you into dealing with them.

dunstonh

Oh dear, another one of these non-regulated companies promoting tax evasion with their cold calling.

DesperateDeb

Thanks for all the responses. A while back, my partner contacted a solicitor friend of his for advice about what to do with these pensions. The friend apparently passed his contact details onto another company. Lothbury then called him up offering to 'buy' the pensions.

He has since spoken to a financial guy who is registered with the FSA and he said he has worked in this area for 25 years and hasn't a clue how they can actually 'buy' a pension.

Needless to say the pensions are being left as they are!

dunstonh

A while back, my partner contacted a solicitor friend of his for advice about what to do with these pensions. The friend apparently passed his contact details onto another company. Lothbury then called him up offering to 'buy' the pensions.

does the solicitor friend know that the High Court has ruled schemes like this as illegal?

fluter

Hi Debra
lothbury pensions will be in LEEDS high court on 17/12/2012
A motion will be to put the company into administration:(

waggy307

I put my pension into Lothbury and it seems like a big con.As fluter said theres a court case,hopefully all our money will still be there