Pensions

pension

(Stuart Wilson) #1

Hi Everyone, hope you're all looking forward to a great weekend.
Does anyone use or has anyone heard of deVere group (financial advice). I don't know where they got my name but they asked if I wanted an appointment free of charge at home to discuss UK pensions and transfer to France. They mentioned to my wife, as I was at work, that the pensions from the UK would change soon and we would receive less than expected. Not sure if they were talking state or private.
Any feedback would be much appreciated


For info I will have worked around 50/50 UK and France by the time I reach pensionable age.


Cheers (it's apero time)


(Laurence Clary) #2

Hi, I know your post was a while ago, but just out of curiosity as we are looking at AVs, are you happy with yours? Thanks.


(John Alcock) #3

The is an article written by Rob Hesket on QROPS in this months Aude and Ariege flyer


(vic evans) #4

We used Siddalls for our Assurance vies & have just asked them if they have been taken over. They tell us No. They do seem to change advisors quickly though!


(Brian Milne) #5

No way, I haven't a clue which was my downfall. I heard what the advisor said, bought and lost the lot - 100% loss after about 20 years paying up and thinking old age would be comfortable. Probably the best approach is to not trust any of them and go pot luck!


(Steve Hayes) #6

Thanks Irish Life / SEB?


(Jane Williamson) #7

We are clients. S C Davies manage our private pension and the funds we put into an Assurance Vie before we left UK.

We used to use Siddalls for the financial advice for our pension, but they have been taken over and we are not getting the same service, so are moving elsewhere. We also need someone who has all the right tickets for the Assurance Vie, hence Alan Blaskeiewicz.


(Steve Hayes) #8

Sorry to be dim Jane, when you say "our asset managers" does this mean you are in this business, or a client?


(Roger Bruton) #9

Leave the explaining to Brian!! :-)


(Sarah Williams) #10

RE: UK State Pension and proposed changes 2016 -

Having discussed this with a friend this morning, I thought I would add this info here as it might help anyone who want to increase their qualifying years.

This first link gives information on the proposed pension changes for 2016 -

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/181237/single-tier-pension-fact-sheet.pdf

and this one is about NI voluntary contributions

http://www.hmrc.gov.uk/ni/volcontr/index.htm

To contact HMRC, the non-residents helpline no. is +44191 2037010

To apply to make further contributions, request Booklet N138, Social Security Abroad.


(vic evans) #11

Thanks Roger. Now all I have to do is to convince my missus it's the right way to go!


(Roger Bruton) #12

Vic, I sent you a message about this.


(Brian Milne) #13

That's right. But a government with a conscience? As if!


(Brian Milne) #14

There is no such thing as an independent financial advisor as you say. When my pension collapsed and people went to court and won in 2007 I found out that funds that closed before April 2005 were not part of the decision. When I bought my pension, OK, 1978 I think, but a different era, the advisor told me that nothing could ever damage or reduce my fund. That the company collapsing completely killed it was what he referred to as a calculable risk when I bought. I challenged him on what he said then and was saying now. He simply said that he was a few months off retiring so I should try to sort it out myself. So much for the word 'advice'!

Yours sounds just as unscrupulous. So much for advisors. However, as a company deVere appear to be pretty good compared with others. The agents they use may well be crap.


(vic evans) #15

Roger, I'd love to hear about your experiences in this minefield. If I could remember how to do the "friend" thing I would mail you personally. Perhaps you could "friend" me or tell me how to do it!


(Donna Mickleburgh) #16

Yes we are French tax payers. Yes the QROP, as with any pension, will affect your global income tax. The key is to get the right advise for your personal situation. Dave Nichols advised us based upon our current and envisaged situation. He was also respected our choice to make decision that perhaps were not in DeVere best interests.
Since moving our pension from the UK David is in regular contact with us and visits on occasion when the need arises. I might add that we are not in any way linked to the DeVere Group!


(Roger Bruton) #17

Sue - I just sent you a message about this.


(Donna Mickleburgh) #18

Hi Glenn
Hopefully we have done the right thing. A QROPS seems a much better solution for us. We did a lot of work checking out our advises paying particular attention to the legal registration aspects. We can review our QROPS performance on a regular basis and make adjustments as necessary. We think we have covered our bottoms.
Perhaps your situation is somewhat different to the Pension QROP thread and should be taken in context.
Was your investment legally bidding as your advisor was not registered? I thought being FSA registered would be a given?


(Sue Etherton) #19

Can I ask Donna if you are a French tax payer, as we are and need to know the implication on this if we go the QROPS route? Did you get info from them regarding this? Any help appreciated.


(Donna Mickleburgh) #20

My OH and I have recently dealt with DeVere namely David Nichols and James stratford. They are both genuine and knowledgable guys who will not do the hard sell but give sound advise and let you make your own minds up.
As I was unable to get my pension without suffering a 38% loss ( I’m 50 ) I decided on a 5 year QROPS investment plan. This will result in a doubled lump sum and increase of 400 pounds per month pension.
I also didn’t like the idea of the UK government taking my pension should I die. My husband would only get 50% the UK gov taking the other 50% !! If we both died then the UK gov would take all of it leaving my kids without!
By pulling my pension from the UK my husband will get 100% should anything happen to me and I get a better rate of return. A win win situation!