Expert Info
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
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
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