pension funds have virtually disappeared

dunstonh

You may have some comeback on the seller and may should be considering complaining.

99% of consumers are placed in mainstream products and investment funds.    For some reason, the person that sold you that pension decided you were in the 1% and that non-mainstream options were suitable for you.

In the UK, unregulated or niche investments sales to mainstream consumers are nearly always upheld on complaints and redress paid.

polaris060

thank you. I dont live in the UK so not aware of where to make a complaint, are you meaning the pensions ombudsman?

coyrls

polaris060 said:

ok thank you. so I guess my pension is gone

I don’t know.  Your advisor and SIPP provider’s names are different but the article refers to funds under the LUXIF brand being suspended.  As far as I can tell these are Luxemburg based funds.  The underlying investments may have been managed by the company Amathus, which may or may not be this Cyprus based company: https://amathus.capital/ which seems to invest in London property, which may or may not be connected to this UK based Real Estate company: https://find-and-update.company-information.service.gov.uk/company/03542915

I think it’s fair to say that your pension funds have not been invested in mainstream funds.  What percentage was invested with this LUXIF fund?

coyrls

polaris060 said:

thank you. I dont live in the UK so not aware of where to make a complaint, are you meaning the pensions ombudsman?

You would need to make a complaint against the company that advised you to transfer and to invest your funds in this way.  In the first instance your complaint should be made to the company, if it still exists.

polaris060

that would be de vere. It seems that are still around, will contact them to see what they say

Grumpy_chap

polaris060 said:

that would be de vere. It seems that are still around, will contact them to see what they say

I guess that may be the saving grace - de vere are one of the larger investment houses and a fair reputation.

polaris060

thanks for all the responses!