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-   -   Pension transfer (https://britishexpats.com/forum/spain-75/pension-transfer-918817/)

hughm Oct 30th 2018 10:37 am

Pension transfer
 
Hi can anyone let me know if there is a pension company were I could transfer out of a local government scheme put it into the new company and then transfer oiut off ASAP as I need the money for a prject in Spain. I have had a consultation with a company advising not to transfer out but I am not taking their advice.

Thanks

VFR Oct 30th 2018 11:21 am

Re: Pension transfer
 

Originally Posted by hughm (Post 12585111)
Hi can anyone let me know if there is a pension company were I could transfer out of a local government scheme put it into the new company and then transfer oiut off ASAP as I need the money for a prject in Spain. I have had a consultation with a company advising not to transfer out but I am not taking their advice.

Thanks

Just hang on as there is no doubt that a heap of search bots will have picked up your request (thanks to Google) and the scammers will be busy joining up ASAP

bobd22 Oct 30th 2018 12:32 pm

Re: Pension transfer
 
Only advice I would give is be careful, at least with government pension you have what you are due, others may promise a lot but your pension may evaporate rapidly.

Dxf Oct 30th 2018 5:02 pm

Re: Pension transfer
 
Hola

A fool and their money are soon parted springs to mind. Your local government pension is index linked and if you are of an age where you can extract money from it, then you should have sufficient knowledge that to do so could well mean you need to apply for benefits at a later stage. Spain doesn't have the benefits package that the UK has. You have been advised NOT to cash in your pension presumably by a conscientious financial advisor - from the information given that was GOOD ADVICE

Davexf

missile Oct 31st 2018 8:59 am

Re: Pension transfer
 
There are companies who will transfer against IFA advice, but I would suggest you might be better looking for a loan / mortgage to fund your project.


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