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Arthur
July 31st 03, 12:42 PM
Hello all.
I have a private pension with Zurich (Allied Dunbar).
I took out this pension a few years ago before I became married.

This week, one of their agents has contacted me for a review.
If I agree to increase my contribution will this agent be taking a
slice of commission out of my contributions?

If thats the case, can I sidestep this possibility by just ringing them up
and volunteering to increase my monthly payment without their interference?

Thanks for any tips/advice.

Arthur.

Daytona
July 31st 03, 01:20 PM
On Thu, 31 Jul 2003 11:42:38 +0000 (UTC), "Arthur"
> wrote:

>If I agree to increase my contribution will this agent be taking a
>slice of commission out of my contributions?

I imagine so, and no doubt he's getting commission from your existing
contributions as he's been appointed as your agent. If you ask them for details
of charges, they may well be forced to tell you.

More general pension info. here -
http://www.fsa.gov.uk/consumer/financial_faqs/pensions/fr_tp_nav.html
http://www.pensions.gov.uk/planning_ahead/planning_ahead_homepage.asp


Daytona

Phil Deane
July 31st 03, 06:51 PM
Arthur wrote:

> Hello all.
> I have a private pension with Zurich (Allied Dunbar).
> I took out this pension a few years ago before I became married.
>
> This week, one of their agents has contacted me for a review.
> If I agree to increase my contribution will this agent be taking a
> slice of commission out of my contributions?
>
> If thats the case, can I sidestep this possibility by just ringing them
> up and volunteering to increase my monthly payment without their
> interference?

Normally the company still splits the commission from the policy, but keeps
it themselves. I would prefer someone to get the benefit from it, assuming
he is doing you a good service.


--

Phil Deane
http://www.MiracleExpress.force9.co.uk

There are two major products that come out of Berkeley: LSD and UNIX.
We don't believe this to be a coincidence.
-- Jeremy S. Anderson

john boyle
August 4th 03, 12:03 AM
In message >, Arthur
> writes
>Hello all.
>I have a private pension with Zurich (Allied Dunbar).
>I took out this pension a few years ago before I became married.
>
>This week, one of their agents has contacted me for a review.
>If I agree to increase my contribution will this agent be taking a
>slice of commission out of my contributions?
>

yes
>If thats the case, can I sidestep this possibility by just ringing them up
>and volunteering to increase my monthly payment without their interference?


Yes, but he'll still get the dosh and you will be in no better position,
in fact you will be in a worse position because you will have no future
redress for 'bad advice'


>
>Thanks for any tips/advice.

Go to a 'decent' IFA, and ask for a 'stakeholder' charging contract. And
dont put any more dosh into the Allied Crowbar scheme.

If he's a really good IFA he'll talk you of contributing to a formal
pension scheme completely.

--
john boyle

Tim
August 4th 03, 09:57 AM
Arthur writes
> > ... can I sidestep this possibility by just ringing them up
> >and volunteering to increase my monthly payment without their
interference?

"john boyle" wrote
> Yes, but he'll still get the dosh

.... unless, of course, that particular company offer a "nil-commission"
basis (can't remember off-hand for AD) - in which case, the OP will get more
invested in the pension policy and (I expect) the office will most likely
*not* pay anything to the agent!

No Flipping
August 5th 03, 09:40 PM
"Arthur" > wrote in message
...
> Hello all.
> I have a private pension with Zurich (Allied Dunbar).
> I took out this pension a few years ago before I became married.
>
> This week, one of their agents has contacted me for a review.
> If I agree to increase my contribution will this agent be taking a
> slice of commission out of my contributions?
>
> If thats the case, can I sidestep this possibility by just ringing them
up
> and volunteering to increase my monthly payment without their
interference?
>
> Thanks for any tips/advice.
>
> Arthur.
>
>
>

Before investing in Allied Dunbar you might want to visit the following
website.

http://www.badpension.com/

Tim
August 6th 03, 09:54 AM
Tim writes
> >I believe that under an "execution only" basis, strict "financial advice"
is
> >not considered to have been provided hence there can't be any come-back
on
> >the office. So no "buck" to be stopping with anyone, apart from the
> >policyholder himself!
>

"john boyle" wrote
> In theory true, but not in practice because unless there are certain
> assertions made by the investor that he has not sought advice in any
> way, then by merely accepting the investment the institution could be
> deemed to be agreeing that the investment is the correct thing for the
> investor.

I thought they normally asked you to sign a simple (1-page) form confirming
that it was "execution-only", with no advice given?
At least that's what happened to me!!