heebee

Establishment charge - Nil

Annual QROPS Trustee fee - Minimum GBP500, Maximum GBP950, dependent on size of transfer.

No underlying portfolio bond (PPB) - hybrid used - cheaper than PPB - better funds available than most platforms, uses non-stock market / bond market funds

Posted by a "Carpetbagger", resident in Thailand for 14 years, qualified via UK's Chartered Institute of Securities and Investment, who has a Non-Imm B and work permit, aThai wife and cannot afford to screw up, given the way that some disputes here are settled....

Let me nail my colours to the wall right from the outset. I am an IFA, resident in Thailand for 13 years, holding qualifications from the CII and currently studying to upgrade those qualifications to an even higher level. You will notice that I am a recent member (joined to keep abreast of red shirt activity) and that my posts are few. I only post when I have something to say. I was whittling away some time between world cup matches when I came across this thread.

Never before have I come across such a mixture of ignorance, bigotry and mis-information. Where to start?

Faramond - you could try to moderate your language. You're putting yourself up there to be shot down. Losing 82% of your pension pot on death is technically correct, but would be very rarely applied. 82% pre-supposes a liability to Inheritance Tax. Otherwise, it might be 0% or 35% or 70%, dependent on age. Readers - if you don't how this might affect you find an adviser who does!

Faramond - "the income dies with you". Never heard of a spouse's pension? You really don't need to overstate your case.

Chiang Mai - "the tax man will have you in the most unpleasant way". Nonsense. Moving back to the UK with a QROPS is tax neutral as long as you declare the income under self-assessment.

Chiang Mai - HMRC6. Have you actually read the thing? If so, I would suggest reading it again and understanding it instead of using it to justify your earler poor post.

Readers - if you don't understand the tax implications find an adviser who does!

jesimps and others - one theme in this thread seems to be a lack of understanding of final salary salary schemes/employer pension schemes. A final salary scheme is an employer sponsored scheme, but not necessarily vice-versa. An employer scheme might also be a Contracted In Money Purchase Scheme, a Contracted Out Money Purchase Scheme, an Executive Pension Plan or any one of several other variations. Readers, if you do not understand the differences and how they might affect a QROPS transfer, find an adviser who does!

Another theme that seems to bubble under the surface may be a lack of understanding of the distinctions between Ordinarily Resident, Non Resident, Provisionally Non Resident, Domiciled and Non Domiciled. Time and time again, I meet UK nationals who consider themselves non-domiciled simply because they have lived outside the UK for a long time. Wrong and potentially a very expensive mistake. The recent Gaines-Cooper case severely muddied the water in respect of the 90 day and 180 day rules. An intimate knowledge of this subject is absolutely central to successful tax and investment planning for a UK expat. This is one area where a qualified and experienced Bangkok based adviser will get it right far more often than a UK based adviser. We deal with it every day. The average UK based adviser will come across this issue rarely, if ever. Readers - if you do not know your true tax status find an adviser who does!

Guesthouse - dear oh dear oh dear!! Your post 2010-03-28 09.49. Point 1. Complete and utter rubbish!!! Worse than that, this is dangerous. Where did you turn up this little gem of a doozy? Nana Plaza? Let's get the facts straight. UK pensions are UK sourced income and are, except for some former government employees, subject to income tax under the PAYE system and will be deducted at source by the pension provider. No hiding from it.

Guesthouse - Same post, Point 2. Once again, you are quoting from that great pool of mis-information - hearsay. You heard (correctly) about a five year restriction but display total ignorance of its implications and when it is applied. Your bigotry blinds you to facts. You should refrain from posting mis-information that could severely damage people. You, more than any other poster in this thread need to find an adviser who does!

Guesthouse - "I doubt very much that the vast majority of expats in Thailand who are being targetted by QROPS salesmen have sufficient funds in their pensions by age 50 to attain a sustainable early retirement". Perhaps not amongst your circle of acquaintances.

Guesthouse - I resent being defined as a "carpet bagger" in the same way that you would resent being defined as a sex tourist purely on the basis that you live in Thailand (I assume).

Gambles - you must have the patience of a saint to moderate your language when faced with with the vitriol of some of these people. We both know just how much lack of knowledge and mis-information exists amongst UK expats in respect of successfuI planning, but you must be as surprised as I am at some people's willingness to display it in a public forum. I am quite sure that this is part of your marketing mix, but you cannot reason with ignorance and bigotry. This is my first and last post in this thread. Please, stop dignifying them and do the same.

On a related subject, when I was teaching quite a lot of the boys used "chan" as the personal pronoun. Not katoys or gay kids especially, as far as I know. What do you know about that?

Chan is not used exclusively by women. Though less common, it can be used by males, usually with people they know well. If you read the Thai subtitles on a movie, you will find that chan is used by male speakers pretty well as often as pom. The "I" word used exclusively by women, usually considered more polite, is "dichan".

Slightly off topic, I know, but have some great fun with this....

On an up-country visit, my wife's nephew assured me that this dish was only slightly spicy. Wrong!! Fire hot!! He laughed till his sides were splitting...

A few months later, he visited us in Bangkok. I spooned a large lump of wasabi into my mouth, pretended to chew it when I had actually swallowed it whole. Invited him to try doing the same - assured him "aroy maak maak". I laughed till my sides were splitting...

Thais just cannot do wasabi.

Try it. Revenge is so sweet.

ps Wife loves laab moo with fresh uncooked pig's blood....disgusting!

Aim to get to your final destination in Bangkok before 9pm. No skytrain, underground, buses, taxis.....

Hey, sorry it didn't work out. That's why I put the (!!??) after "good guy". You see people's true colours when they are asked to go an extra yard.

Read Carr's book a year ago - it was recommended by a "born again non-smoking evangelist". Didn't work for me, but it did work for other acquaintances. I think you need to be in a state of mind where you are really are ready to quit. The book will then help you to understand why you smoke, making the process that much easier.

Am I the only one who dreads the flight back to Europe, smokes 10 cigarettes in an hour before heading to the boarding gate, terrified of the flight without my fix, only to find that 11 hours without a cigarette is not the end of the world. Then, like a mug, I head for the nearest exit on arrival to smoke until I am dizzy!!!

I think that the secret is to mentally make the next cigarette every bit as impossible as it was on the flight.

My stop date is Monday 31st May. Will let you know how I get on. Maybe start a blog.

I had a similar problem when leaving an apartment - yes, when the cable & dish is removed, it leaves a bit of a mess. Cost me a modest (though not unacceptable) reduction in return of my deposit. If your landlord is a good guy (!!??), maybe you can agree to cover the cost of making good when you leave. Probably a lot cheaper than watching the World Cup in a bar! Good luck!

Check the availability/validity of your travel/medical insurance, particularly medical. Many insurance companies will withdraw cover as a result of government travel warnings. Under no circumstances should you come here without proper insurance cover, even without the current difficulties.

If you are coming here to find work - forget it!! You need to have a job arranged before you get here. Unless you have special skills that are in need in Thailand, you are unlikely to find anything at all, never mind a job that pays a living wage. You will spend what money you have, and end up back home, like many many others before.

If you have sufficient funds for an extended stay, then do so by all means. You will enjoy it immensely. Don't expect more than that.

Ramkhamhaeng is miles away from the red zone, so, as things stand right now, you will be fine.

Normal common sense applies - avoid the city centre, don't wear certain colours (red, yellow) and refrain from expressing political opinions in public places.

Latest Latest

I have just read here that services to Ratchaprasong will not be terminated at midnight!!

Had to register as a new member in order to post this VITAL new information:

1. Khun Weera has been offered a suite at the Grand Hyatt Erawan in order to spare him the embarassment of hiding from Seh Daeng in the toilets.

2. The executive chefs from the Four Seasons, the Hyatt and the Intercontinental will be preparing the very best sticky rice, somtam and deep fried locusts for free distribution for all those who are suitably dressed in red.

3. The (now redundant) masseuses from Sukhumvit will be offering free foot massages for those suffering from the ordeal of manning barricades in the hot sun all day.

I think I'll drop by tomorrow for a nice relaxing day in the sun....