I have just completed (earlier this month) the transfer of my private pension offshore under QROPS (trustees in Guernsey custodian in the Isle of Man).

The whole process was quite painless and took about 3 months. The immediate advantages are:

• - no UK tax deducted when amount moved offshore, no capital gains (Swiss taxes apply)
• - the investments will pass to my heirs, often a pension plan does not
• - total control over future investments and withdrawals
• - currencies easily changed
• - up to 30% immediate drawdown UK tax free

Many baulk at the fees (mine will be around 2.5% pa). However, previously I have had no idea of the charges made by Norwich Union and then Aviva when they took them over. I simply received an annual statement - sometimes up sometimes down.

The capital remains in sterling at the present and due to the turmoil in the markets, I am in cash. But will want to get into CHFs eventually.

The Geneva-based company I did this through are Forth Capital. I am simply a client, but have no hesitation in recommending them. I have found them honest, quick to respond and efficient...

[QUOTE=AbFab;1306041]

• - the investments will pass to my heirs, often a pension plan does not

Any pension in the UK (before actually receiving an anuity) should pass to whoever you nominate free of any UK inheritance taxes. A UK pension fund is held in trust so does not form part of the estate.

I had the same experience with another company in the same business (a different investment but they also push QROPs) until I read the documentation, understood what it meant and realised that I had been "misled" in a number of ways. The process was pain-free up to that point (such a nice, knowledgeable, helpful, honest chap).

Crucially, they were unable to give a straight answer, let alone a written statement, as to how much they'd take in commission.

Unbelievable !

http://www.telegraph.co.uk/finance/p...-to-QROPS.html

How does a supposedly reputable journalist/paper print such an advertisment without doing a thorough analyses first?
As the journalist lives in Malaga, maybe that's the connection?

Before printing they must have done some sort of research into in and more than properly a lot more depth than people on here.
But last week i had an appointment with another company which pushed the pension busting at a fee of 8.9% and was unregulated, it seems this is normal in Spain and nothing is being done about it.

Journalists get paid to write stories DV&P get paid by finding mugs who read stories nothing new.

This is the journalist, George Prior: http://georgeprior.co.uk/. Hopefully, if people write to him or The Telegraph, there will be clarification as to why The Telegraph is now endorsing this company. Strange he didn't even check their archive.

As an expat in Spain, perhaps he's just met some really great guys who seem to give expert advice. (He's on LinkedIn.) He could be a shiny new client or about to become one.

So you're no longer working at DV?

Enough. All of this is off topic. Spain has nothing to do with Switzerland. Back on topic please.

British man jailed for offshore scam
HMRC establishes specialist team to tackle QROPS abuse

Dear whitecat74,
You have the possibility to transfer your UK pension into a Vested Benefits account in Switzerland, provided it's QROPS admitted. I qork for a private bank which actually runs such a scheme and may be able to help you with this.
Please note, however, that every person and case is different and needs to be analysed very carefully. It may or it may not be recommendable to make this transfer depending on your personal circumstances.
If you want to know more about it, just PM me.

Rgds.,
QROPSprovider

Whilst this may be an old thread I think this is worth saying. Do not pay anyone to transfer your pension, it is easy enough to do it yourself. The Kantonal banks have a vested pension plan that is QROPS approved, just go to them and ask to open the account and explain you want to transfer a UK pension fund, They will be able to give your documents supporting their QROPS approval etc. Then simply go back to your UK provider and request the transfer documents, mine were sent within a week from both of my providers with cler instructions of what to do.

If you need advice on the different types of investment then fine pay for this but the transfer can actually be done for free, yes there are scheme adminisration charges but they apply to all pension funds worldwide.

I am just quoting the Kantonal fund as an example, please do not take that as any kind of investment advice or recommendation. I am just saying it can be done for free.

The same journalist has since written another two articles for The Telegraph promoting the Beers:
Geneva expat ball raises money for charity
Geneva expats prepare for charity ball

This suggests that the Telegraph is giving the Beers its endorsement.

A more recent article written elsewhere by the same journalist promoting the Beers, describing himself as a PR consultant:
A top conversation: a look at the power of sponsorship

Closed to comments, so I got this one instead.

Also some interesting comments with that article.

Here's the CEO quoted in a UK magazine aimed at the over-50s:

Beers buys 24% stake in QROPS provider

I also hope this thread is kept alive. This information is invaluable.

MakeABigWish

I got a PM from this firm yesterday http://www.c-bm.biz/ifp

What the guy does not get is I dont want to invest in a collective funds, even if he offers 6,000!
I also got a PM from the owner of the 'other' forum who used to be a mod here, he is fishing for business too.

Do all these people really think I am an idiot

That website could do with a makeover.

There are no yachts for a start.

Perhaps he is legit, anyway I don't what or need advice, any Financial Advisor who 'cold calls' me will get publicity