Don't do it! (IMHO)

Discussion in 'Armed Forces Pension Scheme' started by Adam(KOS), Jul 11, 2012.

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  1. The Forces Wealth Network - Alternative Pension Solutions
    From personal experience of transfering my frozen benefits over 20 years ago I'd advise against the above.
    The guarantees of the AFP outweigh the risks of speculation by transfering.
    For further info' ask an 'honest' IFA.
    That's all.
  2. BiscuitsAB

    BiscuitsAB LE Moderator

    **** ME!

    OK Pension transfer is right for some and wrong for others. This website however is not only advocating looking at a CETV option on the AFPS but also on investing into Alternative property investments outside of the UK. The company offering the alternative investments aren't regulated because they say they don't give advice, they leave that to a third party financial adviser whom they don't name.

    If your Armed forces pension is all the retirement funds you have then if you look at this you have to consider yourself to be at the highest end of the risk spectrum.

    If your pension is just a spare bit of cash that you don't mind if you don't get anything back then have a look further.

    It would be interesting to know who the SIPP provider is to see on what basis the investments are being made.
    • Like Like x 1
  3. Precisly BAB. I transfered into a well known company. It has grown but insufficiently fast enough to keep up with wage increase and when the terrible anuity rates are taken into consideration I suspect I'll be worse off now.
  4. PS Not only would the transfer value of a frozen pension be huge >Think comission here< But it would relieve the burden from the treasury >think conspiracy<
  5. BiscuitsAB

    BiscuitsAB LE Moderator

    If anyone has signed up with this company or in the process of doing so PLEASE pm me I've got some serious questions to ask around the structure of the product and the fact that it appears to fall wholly outside of the Financial Services Compensation Scheme.

    Adam(KOS) thanks for posting this and the link. I'm going to be poking the whole thing with a pointy stick with shit on the end to see exactly what the arrangement is.

    Note to ALL.

    If your armed forces pension is all the retirement planning you've got and you haven't got a couple of million squared away in the bank then the circumstances where you would want to consider a transfer are few.
    There are genuine and real reasons why people would want to take a transfer, but they apply to a low percentage of people. And the whole process is not one to be under taken lightly, you have to understand what your doing and what the risks are.

    If your going to look at it as an option find yourself a Chartered Financial Planner!
  6. The Forces Pension Society, and I'd also agree with Biscuits. It depends on your risk attitude: safe, or speculative and exposed to losses. A long time ago we were told that the AFPS (75) was one of the best, had a GMP, was non contributory, and safe. The bit Biscuits refers to on that web site is this:
    "... not regulated by the FSA as the investments that we offer are not regulated, however all pension advice with regards to the transfer of your pension(s) is provided by FSA authorised pension advisors".

    Of further interest might be this: Consumers warned over pension liberation schemes

    Along with Biscuits' input, if it were me I'd ask the Financial Services Compensation Scheme (FCFS) Consumer Helpline on 0845 606 1234.

    Resettlement Adviser Campaign - entitlement to pensions or compensation
  7. BiscuitsAB

    BiscuitsAB LE Moderator

    Bump. Want to keep this around for a few days.
  8. Bumped again for Biscuits
    • Like Like x 1
  9. And again. Definitely not for me.
  10. Should this thread go over to a wider audience....... Int cell perhaps?
  11. BiscuitsAB

    BiscuitsAB LE Moderator

    Not sure mate, its pension related so you dropped it into the right place, but I think your right it needs a bigger audience.
    • Like Like x 2
  12. BiscuitsAB

    BiscuitsAB LE Moderator

    Bump again
  13. BiscuitsAB

    BiscuitsAB LE Moderator

    And bump again, no apologies want as many people as possible to be aware of this and the risks involved.