| In every profession people need assistance, maybe | | | | Well lets assume you have successfully being guided |
| the neighbour has a car problem, instead of visiting | | | | through the processes and the monies are now with |
| the garage he knows "a friend" who will help him fix | | | | an overseas QROPS, this is not the end of the |
| it - result car now has more problems than it started | | | | matter, your capital now has to earn money to build |
| with and the bill to sort it out is higher than at the | | | | up your pension pot even more. |
| beginning, familiar story? | | | | If you are left to your own devices the chances are |
| Transferring UK Pensions is not something to tackle | | | | you will select funds and markets you know well, |
| with "a friend", pension transfers often involves large | | | | sadly these historically good funds may not be where |
| capital sums and any incorrect help can either reduce | | | | you should be over the ensuing years. What you |
| the returns on the cash or even result in the money | | | | need to have is a broker that can keep you informed |
| being taxed due to incorrect product or jurisdiction | | | | of the world markets, introducing you to different |
| being used. | | | | market sectors and different regions, all aimed at |
| You have worked all your life to build up cash for the | | | | spreading your portfolio, always within your own risk |
| future, the UK government has now give you the | | | | criteria. |
| opportunity to manage the cash in a tax friendly | | | | In addition you should look for 24/7 online valuations |
| offshore location and give you access to some of | | | | and the ability to easily change the portfolio mix. This |
| your cash at age 50, changing to 55 shortly, the trick | | | | is key to getting added value from your pension |
| is to find a suitable QROPS broker that can guide you | | | | transfer. The better QROPS advisers will assign you a |
| though the many steps necessary to finalise a move | | | | personal consultant; they will be on hand to look |
| that creates more returns for you in the best | | | | after you throughout the entire time you hold a |
| possible way. | | | | QROPS with them. |
| Misleading advice occurs in all industries, pension | | | | The other thing to consider is other financial planning |
| transfers also has its fair share of inappropriate | | | | areas, now the pensions are sorted you may still |
| advice offering you magic figures-100% of all your | | | | have need for advice on health insurance, offshore |
| cash tax free after 5 years- | | | | banking and regular savings accounts, you should |
| Already we have seen Gibraltar and Singapore | | | | check if your new advisers can offer these |
| schemes halted by the HMRC since these offerings | | | | important aspects either directly or through a sister |
| fell outside the HMRC remit.Those clients that took | | | | company, if they can then this is the kind of broker |
| this route are now fighting to get their pensions back | | | | to consider. |
| on track, they are now in limbo and not earning a | | | | To conclude not all QROPS advisers work in the |
| cent in interest whilst the relevant parties sort out | | | | same manner, use companies offering only 100% |
| the issues. Had the clients contacted QROPS advisers | | | | approved QROPS schemes, see what they can offer |
| with both experience and up to date information this | | | | by way of charges and investment advice and of |
| would not have happened. | | | | course future valuations and investment advice, |
| What extra benefits can be derived from using | | | | check if they offer additional services that you may |
| specialist pension transfer companies? | | | | require at some future point. |