Early cashing in of a deferred Final Salary Pension

Bobby_Shants

dunstonh wrote: »

So, you are looking to commit fraud?

No wonder you are being so obtuse.

Stop the weak pound.

Bobby_Shants

Malthusian wrote: »

Please do as it will almost certainly provide a cautionary tale to those Googling "how do I cash in my pension" in the future.

A very cautionary vision.

Bobby_Shants

dunstonh wrote: »

The exception will be the non-regulated scammers who do most of these. Who take great chunks of the value of the pension in the process and are not around in the years to come when HMRC catch up with the individual and hit them with a 55% tax charge.

My Defined Benefit scheme offers a raft of benefits to those planning to retire abroad. This scheme can reduce taxes when pensions are paid out, remove currency risk and avoid tax on any remaining lump sum available to pass to heirs.

Bobby_Shants

dunstonh wrote: »

Why do you want to transfer the pension?

I need the money and unable to borrow.

Bobby_Shants

molerat wrote: »

Qatar, Oman and UAE do not appear on the QROPS list so I doubt that a) the pension provider will sanction a move there (as they will get a tax bill) and b) no IFA in their right mind will sign it off. If you do manage it HMRC will bill you for up to 55% of the payment.

Pension provider is in the process of sanctioning the move, IFA have approved and under my special circumstances I will pay nothing to HMRC.

coyrls

Bobby_Shants wrote: »

Pension provider is in the process of sanctioning the move, IFA have approved and under my special circumstances I will pay nothing to HMRC.

I find that very hard to believe.

Bobby_Shants

Malthusian wrote: »

Please do as it will almost certainly provide a cautionary tale to those Googling "how do I cash in my pension" in the future.

More like me providing sound advice to those scared of asking questions like mine.

Bobby_Shants

dunstonh wrote: »

Why do you want to transfer the pension?

I need the money and I've nailed it with no tax bill, just had financial advice approved and will be going overseas in November. Just needed to stay positive and explore every option.

coyrls

Bobby_Shants wrote: »

More like me providing sound advice to those scared of asking questions like mine.

I see, you are looking for PM's asking how you did it, so you and "johndough" can promote some dodgy scheme.

Bobby_Shants

coyrls wrote: »

I find that very hard to believe.

I'll send you a postcard and separate package containing documentary evidence 'Old Bean'!