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Pension Transfer Value
buffman
Posts: 440 Forumite
I have a number of different pension policies.The first policy I took out was in 1988 initially linked to a mortgage. I have not made any contributions for 15 years to this plan. Apart from the poor fund performance and no doubt exorbitant fees, I noticed on my annual statement that the value of the fund that I can transfer to another provider is significantly lower than the current fund value. Is there anything that I can do about this?
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Comments
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not transfer it. The difference between the fund value and transfer value will equalise over time based on your target retirement age.0
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not transfer it. The difference between the fund value and transfer value will equalise over time based on your target retirement age.
However I may wish to emigrate overseas before the retirement date and transfer my pension into a QROPS. Anyway I can do this without losing 8% of my fund?0 -
However I may wish to emigrate overseas before the retirement date and transfer my pension into a QROPS. Anyway I can do this without losing 8% of my fund?
If a QROPS fits your needs ( suspect a SIPP would be better but it depends on DTAs and other issues incl whether the QROPS jurisdiction has changed its rules to meet the new pension flexibility), then use a fee based adviser.
Offshore advisers often put everything into an insurance bond for 8% commission. Avoid those advisers like the plague. A proper platform with time based fees will be much better value.0 -
Kit you are new, yet posting about Qrops which is full of scammers.
Do you by any chance work for one?0 -
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Kit you are new, yet posting about Qrops which is full of scammers.
Do you by any chance work for one?
I am not new, I have not posted for a long time.
Do I work for a scammer? No. Do I work for a QROPS company? No.
I see only a very few cases where QROPS have any benefit, it is a huge misselling debacle.0
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