Expert Info

Posted by
on 11 Feb 2013
Hi,

My wife and I transferred or UK pensions to Guernsey QROPS in 2009/10 that has now been removed from HMRC approved list.

Our QROPS provider has in turn placed our fund management with Spearpoint/ Brooks Macdonald Asset Management. The charges are 0.4% per annum plus 0.25% charge per transaction.

These charges mount up and we are being charged best part of £10,000.00/ year.

My question is : is this fair and reasonable charge and is there anyway we can reduce this cost down???

Our UK SSAS didn't charge anything like this and we are shocked at the extra costs, as these cost are mounting up and thus reducing our income on investments.

Regards, David
Anonymous (not verified) on 1 Mar 2013 - 07:35
The other large QROPS jurisdiction, the Isle of Man, saw a negligible change in the number of QROPS schemes registered with HMRC.
Anonymous (not verified) on 7 Mar 2013 - 23:05
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Anonymous (not verified) on 11 Jun 2013 - 13:52
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