Talisman Section 32 Buyout Bond

Fergy539

Hi. I have a Section 32 Buyout Bond with Royal London and due to retire in three months. Lots of bad reviews on Section 32s in general but does anyone have any real knowledge of them they might like to share with me. Not sure what to do. Value is £118,000 and they are saying I will get £5385 per annum. Had a IFA back in the 80s who told me to transfer my RAF pension into a S32 and so I am not a fan of using another IFA. Thanks

dunstonh

Lots of bad reviews on Section 32s in general

Really? Are those reviews from people that actually know what they are talking about? I find most S32s have excellent terms on the whole.

but does anyone have any real knowledge of them they might like to share with me.

Any local IFA.

so I am not a fan of using another IFA.

Judging others on the basis of an individual is small minded and daft. Especially when it is to do with something 30 years ago. You would never get anything done in life if you applied that principle to everything. You are going to be stuffed if you suffer a negative event with a bad doctor. And if you get food poisoning, you will never eat again.

Fergy539

Wow my first post and so is everyone on here like you?...: ''Judging others on the basis of an individual is small minded and daft.'' I said I wasn't a fan of IFAs and didn't say I would not use one again. Just looking for some 'friendly and polite feedback' from anyone with current knowledge of S32s and all duly appreciated in advance.

dunstonh

Wow my first post and so is everyone on here like you?

Yes. There are lots of knowledgeable people on here.

Just looking for some 'friendly and polite feedback' from anyone with current knowledge of S32s and all duly appreciated in advance.

What current knowledge are you after? The knowledgeable ones amongst us could post hundreds of pages of text on section 32s. You really need to help us to help you by asking questions and what you want to achieve. You have left it very vague at present

cloud_dog

Fergy539 wrote: »

Hi. I have a Section 32 Buyout Bond with Royal London and due to retire in three months. Lots of bad reviews on Section 32s in general but does anyone have any real knowledge of them they might like to share with me. Not sure what to do. Value is £118,000 and they are saying I will get £5385 per annum. Had a IFA back in the 80s who told me to transfer my RAF pension into a S32 and so I am not a fan of using another IFA. Thanks

Firstly, I would think you need to ask a question?

What are you after, confirmation that your S32 is good value, bad value, that you'd be better off transferring? What are you after?

xylophone

You had an occupational pension that you transferred into a S32 buyout bond.

http://www.financialadvice.net/s32_buy_out_plan/zone/1288

The above may be worth a read.

Have you obtained a state pension statement?

https://www.gov.uk/check-state-pension

mgdavid

I love my S32, it was from an employer back in the 70s & early 80s, ended up being administered by Phoenix. It had a GAR of 8% which gave a useful boost to my overall pension situation, when I was expecting very little from it.

justme111

I am not sure why it is so difficult for knowledgeable people to understand what you are after - to me it looks clear that you are after opinions, tips and advice on that pension or bond or whatever it is. Are conditions consideted to be good, how safe it is relative to other options, anything in particular to pay attention to etc. It may be that their knowldege is so vast they are out of touch and genuinely do not understand or may be they were annoyed by your statement that you are not keen to deal with IFAs ( btw I liked a comparison to someone who had food ooisoning once and refused to eat ever since(

mgdavid

justme111 wrote: »

I am not sure why it is so difficult for knowledgeable people to understand what you are after - to me it looks clear that you are after opinions, tips and advice on that pension or bond or whatever it is. Are conditions consideted to be good, how safe it is relative to other options, anything in particular to pay attention to etc. It may be that their knowldege is so vast they are out of touch and genuinely do not understand or may be they were annoyed by your statement that you are not keen to deal with IFAs ( btw I liked a comparison to someone who had food ooisoning once and refused to eat ever since(

do you have any opinions or knowledge that may actually help the OP?

justme111

Yes - what I have written. I am sure many people and OP will relate to it and although no useful information was given in it it still probably is better than have no information given AND be put down.
Feel free to disagree

cloud_dog

justme111 wrote: »

Feel free to disagree

I'll have to both disagree and agree.

I disagree in your summation of the situation, insofar as the OP has provided no context with which to offer any useful or even general opinion or insight with regard to the position they / the S32 is in?

I will agree with your statement that your post doesn't add any useful information. You could have quite easily asked the OP some pertinent questions if you'd wanted to but, no.