In a Pickle

dunstonh

Kayserrant wrote: »

Dunstonh... I wish you were my adviser! You are very well informed.
When you say “jumping the gun’.....do you mean I should consider not lodging a complaint or are you referring to something else?

I mean if you make a complaint, don't expect to succeed. It's not a nailed on case. i.e best not to worry about the redress method quite yet.

I mentioned that i know of one network that was virtually auto upholding all complaints on these types of plans. However, that network is still open and the member adviser pays the redress rather than the network (network pays it and bills the adviser). You mentioned that the network in your case has folded. So, you are not going to benefit from an auto-payout decision but have to deal with the FSCS.

xylophone

Are you currently contributing to a pension (through an employer's scheme or otherwise)?

Kayserrant

Hi there, no, am not currently paying in.

Kayserrant

I mentioned that i know of one network that was virtually auto upholding all complaints on these types of plans. However, that network is still open and the member adviser pays the redress rather than the network (network pays it and bills the adviser). You mentioned that the network in your case has folded. So, you are not going to benefit from an auto-payout decision but have to deal with the FSCS.[/QUOTE]

Thanks for the clarification. I have pm’d you.

xylophone

Hi there, no, am not currently paying in.

Are you not currently in employment?

Even if you have no relevant earnings it is still possible to make a net annual contribution of £2880 per tax year to a personal pension and receive tax relief of £720.

Kayserrant

Hi , due to ill health i only now work a few hours a week. Thanks for the info though.
If i was to move existing fund into a sipp do you think that might help, and scrape together some money to pay in on top...bearing in mind 5 years left (if i last that long]
Thanks

xylophone

If you transferred your pension into a SIPP, you would need to manage your investments yourself - do you feel up to this?

https://www.ebay.co.uk/p/DIY-Pensions-a-Simple-Guide-to-Pensions-Sipps-Retirement-Planning-Paperback-9-Mar-2017/690564813 might be worth a read.

Kayserrant

Xylophone, yes i think i may be, well, at least its something to reflect on. Thanks for the link for the book. I am gonna have a good gander at this tomorrow.

Kayserrant

Out of half serious curiosity -could i actually put a complaint in about my own advice to myself whilst working as an adviser for a company who belonged tao a network when i did a pension transfer? How would that work , (if it could��)

dunstonh

Kayserrant wrote: »

Out of half serious curiosity -could i actually put a complaint in about my own advice to myself whilst working as an adviser for a company who belonged tao a network when i did a pension transfer? How would that work , (if it could��)

There is only one known example of this the FOS threw it out and treated it as a frivolous case.