Global Pensions ?
#1
Account Closed
Thread Starter
Joined: Jul 2005
Posts: 1,693
Global Pensions ?
Hi All
Looking at pension transfers....has anybody used this company ? any feedback at all ?
Cheers
Dave
Looking at pension transfers....has anybody used this company ? any feedback at all ?
Cheers
Dave
#2
Forum Regular
Joined: Mar 2007
Posts: 39
Re: Global Pensions ?
I had a look at all the suppliers I could find about 6-8 weeks ago and Global Pensions wasn't on the list - there were a couple people suggested should be avoided, so that would be worth a forum search.
Two things I would look at - 1) do they use an Actuary and 2) do they charge a % figures for the transfer - I can't see any justification for it.
Sorry if not much help.
Two things I would look at - 1) do they use an Actuary and 2) do they charge a % figures for the transfer - I can't see any justification for it.
Sorry if not much help.
#3
Re: Global Pensions ?
You don't need to use a company to transfer your pension! Instead:
1. Choose your Oz Super Fund.
2. Make sure it's on the current Inland Revenue QORPS list (do a search for the link; too lazy to look it up - sorry).
3. Join your chosen Oz Super Fund.
4. Give them the details of your UK pension scheme and your new Oz Super Fund will process all the paperwork for the transfer free of charge.
Before you do the above, you may want to get some financial advice as to whether you should transfer your UK pension and as to which Oz Super Fund is best for you - for that you want an independent financial advisor.
But when it comes to organising the transfer - don't be conned into thinking it's difficult and you need to pay money to someone to do it!
Gina
1. Choose your Oz Super Fund.
2. Make sure it's on the current Inland Revenue QORPS list (do a search for the link; too lazy to look it up - sorry).
3. Join your chosen Oz Super Fund.
4. Give them the details of your UK pension scheme and your new Oz Super Fund will process all the paperwork for the transfer free of charge.
Before you do the above, you may want to get some financial advice as to whether you should transfer your UK pension and as to which Oz Super Fund is best for you - for that you want an independent financial advisor.
But when it comes to organising the transfer - don't be conned into thinking it's difficult and you need to pay money to someone to do it!
Gina
#4
Forum Regular
Joined: Mar 2007
Posts: 39
Re: Global Pensions ?
I think that advice is correct for some people - particularly if they have just arrived and are 101% sure they are going to stay. As for me - my fund wouldn't transfer it for me and, because I had been here 5 years (yes, lazy sod) I needed some tax to be calculated. I also liked seeing an actuarial report which said (at least in my case, not everyones) that bringing it across was the right thing financially.
#5
Re: Global Pensions ?
I will also be getting financial advice, including an actuarial report, and I expect to pay for that. But this is seperate from the actual transfer of the pension (and post 6.4.2006 this is easy to do yourself).
Gina
#6
Account Closed
Thread Starter
Joined: Jul 2005
Posts: 1,693
Re: Global Pensions ?
That was my point - guess I didn't explain it very well .
I will also be getting financial advice, including an actuarial report, and I expect to pay for that. But this is seperate from the actual transfer of the pension (and post 6.4.2006 this is easy to do yourself).
Gina
I will also be getting financial advice, including an actuarial report, and I expect to pay for that. But this is seperate from the actual transfer of the pension (and post 6.4.2006 this is easy to do yourself).
Gina
Dave