Lesleys

Originally posted by runt

    > here here



Quite so.



Only one question left in my mind.....If I leave my pension fund in the
UK but arrange to have it all invested in Australian stocks, does it
then escape the dreaded FIF?



I expect it all depends........

Gld

Originally posted by lesleys

    > Quite so.


    > Only one question left in my mind.....If I leave my pension fund in
    > the UK but arrange to have it all invested in Australian stocks, does
    > it then escape the dreaded FIF?


    > I expect it all depends........



Lesley



I presume you are referring to FIF = Fleece Immigrants First?



The starting point is your type of visa, then in no particular order
(but all still need to be considered) what do you want out of your
pension, followed by your plans for the years ahead, then consideration
of what type of pension it is in the first place - some pensions are
exempt from FIF, your age needs to be considered, then size of the fund
or arrangement (policy terms and conditions are key when determining
whether its FIF or not) your current financial situation is key and the
list goes on and on of what needs to be considered.



Assuming you have the answers to these questions and even assuming that
the investment as you describe worked - you would not find an off the
shelf pension fund that invested in Australian Stocks and even if you
did then it would be a very high risk fund - one that invested in one
small market sector. Anyone suggesting that you do this or setting this
up would need to know that you knew exactly what you were doing, i.e.
intending to manage such a fund from afar - else the advisor would be
involved in setting up a pension knowing that you were not in a position
to manage it efficiently - financial regulators frown considerably.



Then there is 27CAA to consider.



The short answer (Presuming its a FIF - some personal retirement plans
are not FIF's incidentally) is your solution would not get round the
basic principles of Australia assessing you for tax and social security
on your world wide assets and income. (Yes social security as well).
There are better ways of dealing with this issue and how you can get it
to work for you not against you.



At the end of the day there are other ways of manoeuvring into position.



I hope that this comes across as assistance and that it is seen as
stating the facts - because we are regulated I am guilty if I don't
supply caveats and guilty of advertising if I do. If I have helped in
anyway, thats fine by me - take advice before doing anything.



Cheers

Gld

Originally posted by Lilith

    > Geraint,


    > I understand what you are trying to accomplish here: soliciting leads

    > for your financial advice business. However, as a long-time observer

    > who has benefited from people's kind input on this forum, I find your

    > style quite abrasive, and unnecessarily condescending.


    > Your potential clients are most likely well-to-do retirees who didn't

    > get there by being stupid, so don't assume that they don't know the

    > basics. They didn't get there by parting with their time or money too

    > casually, so if you have something useful to offer, make your point

    > and move on.


    > If you would just stick around long enough and provide precise and

    > concise input to those who seek advice, like the good ole folks Allen

    > and Jeremy did, you may one day end up with a pool of enthusiastic

    > clients.



Hopefully what we post comes across as assistance and seen as stating
the facts - because we are regulated one can be guilty if one doesn't
supply caveats and guilty of advertising if one does. If I have helped
in anyway steer people away from getting it wrong then it has been
delivered in a manner that satisfies both -a fine line to walk.

Lesleys

Geraint,



Er, thanks. I was right then.... it all depends....



Lesley

Gld

Originally posted by lesleys

    > Geraint,


    > Er, thanks. I was right then.... it all depends....


    > Lesley



Unless one sees the pension scheme itself one cannot say what it is.
The depends relates to contract wording.



I meant to say earlier that your idea of holding Australian Stocks would
not work if it were indeed a FIF - which invested in Australian Stocks -
it does not create a FIF exemption by a FIF investing in Oz stocks.



You may however already not have a FIF.



Just clarifying the position to ensure no misunderstanding

Runt

Is Mr Davies (who has the same name as a pasty faced UK MP on telly last
night) sincere or what?????



Should I be a teeny bit suspicous of him? Hmmnnn ......