01516680386

Hoping nan that the fact that this isnt strictly pension release / liberation (accessing before age 55) that they look at this a little differently. .
No hope for those scammed under the true liberation as you have said...I am of the opinion that this "method" is unusual for the regulator/ombudsman and HMRC to deal with...we shall see..staying positive..

Didnt even know they had offered anyone "pension release"...is this the case..? Access to their oensin before age 55..??

1 really hope that what you say is the case.  That at least will give people a chance of getting at least something back.  Lets hope that pension release was not offered to "Kate".  I read on one of the other threads that some of these companies were offering to move Service Pensions and Government Superannuation schemes to their own schemes.  As these pensions are classed as "gold plated" any move would be a waste of time and, certainly, money.  Makes you think, though.

9 times out of 10 a waste of time...
Moved one in my time for a single guy not in the best of health so made sense...

Fingers crossed

My pension was from the Royal Mail..a great pension by all accounts..It was frozen from 2004 and initially I wanted to cash it in
as I need the cash, J.P.Sterling told me that the law had changed and as I am under 55 I wouldn't be able to liberate it but if I came over to their scheme with CapitaOak I would get a lump sum of 5% which I received through Thurlstone Management.
I also paid 5% for them to 'manage' the scheme for life and they said I would have to repay that 5% lump I received if I left the scheme within 3 years..Just as I thought we may be getting somewhere the bombshell that the HMRC would want 40% just makes me feel ill.

I do hope that it turns out ot be what Paul thinks and HMRC won't want any money.  The only small ray of light is that I understand that HMRC are prepared to makea payment arrangement.  Not much I know, but at least it's a breathing space.

Well lets hope Paul is right..They've got £108000 of my money..How long would HMRC let me pay back £43200 lol
Just gotta keep positive :)

I think my understanding now after reading a bit -- it is the scheme administrator who is liable for 40% if they de register it. Andd there would be a tax charge on any unauthorised payment of 55%. That is 55% of the 5% that was liberated, so just over 2 1/2 %. The money transferred would not be subject to a tax charge. That's what I understand anyway. As for staying in the scheme for 3 years or you would have to pay that loan back --- well that's laughable. They wouldn't have a leg to stand on if an independent trustee came in and took over the scheme. The hard bit by far would be to try and sell these things and get somewhere approximating to the amount we put into it (and dealing with Storefirst and that slippery crook T Whittaker) .. Maybe a long time, but hopefully things may start going in the right direction soon.

looks like we've just got to be patient and hope that those pods sell..Got a message back from Alison Vaughn who said I need to contact the usual HMRC regulator etc etc which I replied I have already done so, so lets hope along with the rest of us who have contacted her and the others that now something significant can start happening to retrieve our money.

Dear John,

I have been reading all of the messages regarding Capita Oak, J P Sterling Associates and Store First, I am utterly devastated, I too have had my pension funds in the sum of £109,000 from Royal & Sunalliance transferred to Capita Oak last March/April 2013, again receiving paperwork from Thurlestone and also receiving the 5% payment and being informed not to touch these monies for 5 years. I have recently turned 51 and believing that at 55 I would be able to take the eligible lump sum tax free, now that lies in tatters. What a stupid fool I have been to fall into a trap of this nature. I also have recently received a letter by first class from Capita Oak confirming closure to new membership as of 31 March 2014 due to recent legislative changes by the Government to Pension annuities. I did have niggling doubts at the time, but the 5% monies came in very useful, as I had not long lost my Mum. As all of the messages have confirmed, I will collate all of my paperwork and write to the various regulatory bodies to pursue these vile individuals, I will also revert back to Royal & Sunalliance and request information they received from Capita Oak. I would be obliged if you would keep me in the loop of any feedback you may, or others receive of any chance/possibility of us receiving our monies back!! I have emailed J P Sterling Associates but only receive a non delivery notification back. I have just emailed Capita Oak and await a response. Do you have an email address for Store First?

Thanks

Julie

Morning Julie .
Sorry to hear about your scenario..
I dont have an email address for Storefirst...not sure if anyone has...
You may well get a standard reply from Capita Oak.
As you have said, contact those that matter..regulator..ombudsman..hmrc..etc..
Ring Royal and Sun (Phoenix??) ..they will tell you how much went across exactly and to whom and where..
Hopefully, this will get resolved

Hi
Your scenario is similar to mine including the amount you transferred over. If we all stick together and persevere then just maybe we could get something positive resolved..surely in this day and age evil individuals can not just steal peoples hard earned cash and get away with it. Hope it is a small comfort to know you are not alone and the people on here know exactly how you feel.

Hi Julie
Got to be positive with the fact that Regulator has been investigating this for some time, and they are probably most important organisation in this as they hopefully can appoint an independent trustee to sort this out. I'm sure they will, but tricky step will be getting Storefirst to cooperate with them when they try to sell them, as i'm sure they are all connected in some way. Have you contacted Action Fraud ? Fill out the form on their website with all details available to you.

Thank you for your support and advice. I will be preparing my letters to the various bodies over the weekend. I will contact fraud action and complete the necessary forms. The motto has to be 'United we stand, divided we fall'. I so hope there will be some light at the end of the tunnel!!

Surely their must be some claim against Sun Alliance who have not done Duedill
http://www.fca.org.uk/news/warnings/jp-sterling-associates

Problem here is the fact that the warnings appeared 12 months ago and most of the transfers went through up to 18 months ago

Yes by the time these warnings came out we were in ignorant bliss thinking our pensions were invested safely and in my case thinking that if I died my family would receive the whe amount in a lump sum as per the nominated beneficiary form I completed.  It is fair to say that 18 months ago I knew nothing about pensions really, I know a lot more now !  I was reassured by the fact that this 'Company' were HMRC registered, how can HMRC allow this to happen ? What is the point therefore of being registered with them?

Please be advised that Thurlstone Management Services Limited IS NOT a Gibraltar-registered company and that we have also checked 'Thurlestone'.

An address provided corresponds to the former office address of a company manager, but the above name is not known to the latter either.

Why would the "Financial Services Commission, Gibraltar" suddeny decide to post on here?  How would you even know that there was a discussion regarding that company on here? Why would you search for this number on the Internet?  This has the hallmarks of someone trying to deflect investigation.

Yes, I agree with you totally, ignorant bliss, up until a year before I hit 50 was when I started to look at taking the lump sum, which up until 2010, at age 50 you were able to take 25% tax free lump sum, Government changed this to 55. Again, I didnt think much more about this until I received a call from JP Sterling back in September/October 2012, it was a very slow process and things did not start to move with the transfer etc until April 2013. Although I had a few niggling doubts, the fact that Royal & Sunalliance would not transfer any monies over until they had received a HMRC number, that made me feel a lot more confident that the Company was genuine, as far as everyone is aware when HMRC lay the Law down about this and that and the fact that Companies have to be registered etc, you believe you are in safe hands at that point, obviously not, as everyone has mentioned before, not enough checks in place and particularly as individual's Pension Companies were williing transferring pension monies across to Capita Oak as soon as they had the HMRC number, so who where does the blame actually lay????