01516680386

You are obviously one of the scammers trying to put everyone off track - pointless really as your comments are pathetic!!!

My day just got a lot worse, this is a nightmare.
I have just got off the phone from the Money Advice Service and spoke to a helpful guy there. He said he cannot give specific advice but I ran the situation past him anyway. If a pension is paid to a private bank account before this April and the person is under 55 there is a huge tax charge.
He had never heard of this type of situation, but made it clear that payment into a personal account now would mean a massive 55% tax charge with additional charges on the trustees. Not that there are any here. I was told to get professional advice.
Can we urgently get clarification that the money was paid into a real pension bank account, I cannot believe this. Not only losing money in store pods but a huge tax bill on the full amount. How in this day and age is this allowed to happen???????????

I am afraid you have got it right.  The 10.8 million never went anywhere near ITSL or Capita Oak. Downs has falsified the accounts.  The good news is that 300+ members don't own any store pods. I doubt Christopher Payne had any insurance, so it is all down to claims on Metis Law, the ceding providers, Barclays Bank and the introducers.  And possibly Downs.  The fraudsters stole the 10.8 million was stolen.  End of.  They bought 9.8 million worth of store pods and earned 30% in commission plus the 1.6 million "rental income".  So Payne, Chant, Dunlop, Burton, Ward, Fowler, Perkins, Salih, Hadley, Downs are all in very serious trouble indeed.

If a pension is paid to a private bank account before this April and the person is under 55 there is a huge tax charge......??
Please tell me this is not what you were told by MAS ?!!

Looks like angie has been leading everyone up the garden path. Did i read she APPOINTED HERSELF as a director of the company she had no right too, and not legally allowed too either.

She said she has made up accounts, but how is that possible if you didnt have ALL the bank statements.

Does the women really know what the hell she is doing or is she just on here to stir up trouble. As that is what it looks like.

Me thinks Downs day just got worse.

Haw Haw

Hey, if they are wrong it will be a relief. Would love to hear he was wrong.
I was told to look at this https://www.moneyadviceservice.org.uk/en/arti ... nsion-unlocking 

I did say he could not give advice on this case but that if a pension fund ended up in a personal account before the age of 55 at the moment there would be a tax charge but then I was told to get specific advice from a qualified adviser. Hence my posting this on here.

the whole point is the fact that it is illegal before AND after April....under the age of 55

I may be guilty of not typing that right, but there is a tax charge then and you are sure that all the transfers did not go to a personal account?

If a member transfers there pension to a legitimate scheme there is no tax charge no matter where the money ends up unless it's your own personal account of course

How can anyone speak with this woman when all this woman does is to insult? Now she says I have falsified accounts. My God, what a woman!

well I believe it has Ltd in there.....tax charge applies under age 55 now and from April....
If you refer to the Capita Oak scheme itself and the 5% loan, it will depend who you ask as to whether HMRC will come after the 55% on the loan

Just wondering how you know Keith Ryder is in Scotland?

Still cant believe people still get stung by companies like this. Someone rings you up and promises you the world and you hand over your life savings.

Its the same with the Wine people. Why would anyone hand money over to these people who ring you up. I just dont get it.

It's because they are so convincing...there is never any thought of doubting them. They also prey on people's insecurities...who doesn't want the prospect of a larger pension when they retire?

If someone said they wanted to borrow your car for a few hours and promoised to give you a full tank of petrol in return, WOULD YOU!!! Its the same.

When are people going to learn???

Hardly a realistic comparison is it, you obviously have never been in this position, it's all about the things supposedly in place to protect people in these situations
Lending your car out is not covered by any authorities is it? It's a personal thing between you and the borrower

What I don't get is smart [***]  people coming on here and rubbing people's noses in it..Im sure everyone who has been ripped off and is on here fighting to get their money back has a valid reason for trying to move their pension in the first place ..not just to make extra money but maybe to appease financial hardship..The perps were / are very slick at making their 'products' seem very appealing and professional. It wasn't just a case Oh here's my pension what I've worked so hard for. .There ya go! Take it..People like you who come on forums  shouting 'how could you be so stupid' and the like can lead to people who have already felt like they've lost everything to do something drastic. If you've got nothing helpful or positive why don't you just [***] off??

I have been in contact with one of the UK regulators and mentioned some of the postings on here.

It is highly likely that ITSL does not fit the definition of a fit and proper administrator/trustee under the 2014 rules. My question would then be to ask what insurer would provide PI cover in this instance? If the members are unhappy, then they should report ITSL.
Signatures on behalf of companies would not need witnessing but the capacity of the representative of the company should be clear. From what I have seen, the signatory for ISTL was not an officer of the company at the time of signature. Might be worth getting the articles and association for ISTL and look at who, and in what capacity, an officer can sign.

Interestingly, there was a comment to the effect that the character and motives of anyone trying to help the victims of pension liberation is irrelevant.

Several members have reported them to TPR at least a year ago, and have regularly been on at them to do something. However, with the Pensions Regulator, you cannot get a peep out of them as they hide behind confidentiality. Therefore they cannot confirm or deny what is happening in the investigation. They also cannot confirm or deny if the case is being investigated at all. So the may have been investigating, but you will never get anyone to tell you