Pension Unlocking ( Reciprocation) Schemes
#1
Forum Regular
Thread Starter
Joined: Dec 2011
Posts: 193
Pension Unlocking ( Reciprocation) Schemes
A bit of a heads up if anyone is approached by firms, acting outside the UK, offering loans against a UK pension.
http://www.moneymarketing.co.uk/pens...043412.article
The UK courts have determined that this is not legal. Hopefully, no expats have got involved in this but I thought I would post this, just in case.
The judge's decision is summarised here
http://www.dalriadatrustees.co.uk/fi...-judgement.pdf
http://www.moneymarketing.co.uk/pens...043412.article
The UK courts have determined that this is not legal. Hopefully, no expats have got involved in this but I thought I would post this, just in case.
The judge's decision is summarised here
http://www.dalriadatrustees.co.uk/fi...-judgement.pdf
#2
Just Joined
Joined: Nov 2011
Posts: 26
Re: Pension Unlocking ( Reciprocation) Schemes
Things have moved on a bit since this was posted. Over the weekend, The Pensions Regulator in the UK issued a joint warning with The Financial Services Authority and HMRC on releasing cash from pensions, prior to the age of 55. The TUC have also issued similar warnings to protect their members.
http://www.thepensionsregulator.gov....s/pn12-05.aspx
The FSA have issued this warning
http://www.fsa.gov.uk/Pages/consumer...-schemes.shtml
(Whilst this also refers to QROPS, I cannot see whether this relates to QROPS transfers made by wholly UK residents or whether it includes expats.)
I suspect that this may just be a " UK problem", but I thought I would post this nonetheless as this issue was already on this forum. Anyone got any thoughts on this?
http://www.thepensionsregulator.gov....s/pn12-05.aspx
The FSA have issued this warning
http://www.fsa.gov.uk/Pages/consumer...-schemes.shtml
(Whilst this also refers to QROPS, I cannot see whether this relates to QROPS transfers made by wholly UK residents or whether it includes expats.)
I suspect that this may just be a " UK problem", but I thought I would post this nonetheless as this issue was already on this forum. Anyone got any thoughts on this?