Let me mention that recently I did a check on a £120k pension pot scenario, and I found that you can get a pension with that of around £3000 - £4000 pa, and it depends on which you take out ... for example if you want a guarantee of 5 or 10 years you get less, but it means that if you peg it on day one of your annuity at least the people you leave behind get something. Whereas if you take a higher annuity with no guarantee then they get zilch if the same happens.

The net result is that you take every penny of your lump sum to at least ensure you have something!

Mitzyboy, The lump sum is taxable as a capital gain in France, although there are some rule changes. Everybody wants their pound of flesh.

If you want an index link, you will get 2.6 or 2.7 percent annuity - which is indeed your3K.
Personally I intend to transfer to somewhere I can hold on to the capital value and take a drawdown until annuity rates improve. Or I peg it, whichever is the sooner. But that is very much a pays your money and takes your choice.

so how much do you get if you play the "sickness" card.??

understand if you have a medical condition such as high blood pressure they will pay out a little more as you are expected to live shorter, in the same way as a lifelong smoker.

Thats quite correct ... you are penalised for being healthy

Yes tax free lump sums are taxable in Spain also.
There are a number of options, but most weighted in the direction of the insurance company

What did they say back in the 60s and 70s ..... save for your retirement .... yeah right

Well I smoked 40+ a day till 20 years ago, and they have offered me .....



Nada.

Not only are annuity rates abysmal but if sterling declines in value so does your annuity. Vodafone shares currently yield 5.8%, with international earnings that give some protection against sterling depreciation and hopefully some capital to pass on to your heirs. Not recommending Vodafone but I mention it as an example. Supermarkets like Tesco, 4% yield, are also pretty safe investments.

I do hope your not referring to me "touting for business" jackytoo ? Im here to offer my opnion and advice.

Its not exactly the ideal environment for how i conduct business, maybe for others it is but certainly not me.

I am quite happy to not contribute to the forum further if you honetly feel i should be "avoided by the plague" and i am "touting for business"

I suspect you may have had a bad experience and now tar us all with the same brush ?

Don't worry about it Chris.

Mitziboy and I will decide what is appropriate on this forum.

Keep up the good advice - it's appreciated.

Well I believe you Chris.

Although I suspect others may find it difficult to reconcile your "not touting for business" with your links to your own business web page - and indeed that of the umbrella organisation as well.

Signatures are on their as i have been responding to a few queries which are financially related. My own one is on their because their are a few pages of "helpful advice" to anyone who needs it. Fair enough about the company one. Didn't think it would be taken for touting. If i can work it out i will remove that one...... Unless Mitzyboy wants to help me out again ? Cheers

Is this one better ?

As the Moderator said he can come on and give advice...so can we advise anyone living in Spain to beware of British financial advisors. A quick google will find they have quite a dubious record in Spain.

Anyone thinking of using an "Advisor" should read this first. Lots of info' about unregulated ones.

http://www.costa-action.co.uk/

They seem to have a bit to say about Spectrum group!!

And purely for information and advice...... I wouldn't even consider a pension. There are products available that will allow you to invest your money (for retirement ?) they allow access to the majority of your funds at any time penalty free and allow you to decide where the money is invested (with guidance or just by yourself) you can access pretty much any mutual fund, ETF, stock/ share in the world and keep cash as part of the portfolio. They are also very tax efficient.

You obviously have very limited information

A) we are regulated by the DGS in Spain. We are not licensed to "sell" direct stocks and shares (hence why if a client wants to do that they have to select them themselves) nor are we licensed to off any discretionary portfolio management.

Are we licensed in Spain.... Yes we are, we do not use the passporting method favoured by our competitors, ie being regulated in Belgium and working in Spain.

B) when have we ever claimed to be part of spectrum radio ?

Im wondering whether you are just ill advised or working for one of our competitors and trying to discredit us ? costa Del Sol action group - one man who apparently deals with everybody's issues and has obviously received a "complaint" .......... Maybe it was from you ?

Maybe you should take it up with them instead of making wild accusations From the Costa Action group

The Spectrum IFA Group are NOT Registered or Regulated by the FSA/CNMV as Independent Financial Advisers.



The Spectrum IFA Group are not associated in any way with Spectrum Radio as they pass off. We feel that the advertisement on the station is outrageous. It is intended to mislead the listener to believe, through the same name connection, that they are legitimate. They are NOT.

We have informed Spectrum Radio of this some time ago. However they have chosen to ignore this for reasons best known to themselves.


As the impersonation of a professional is a serious crime in Spain, we have advised the authorities.


You can read more about The Spectrum IFA Group firm on our pages, including their involvement with Offshore Investment Brokers, and The European Federation of Independent Financial Advisers - F.E.I.F.A. Neither of which are regulated by the FSA/CNMV as Independent Financial Advisers.