Hello

This is strange but true.

I have a SIPP pension with a fund manager called Namulas. Its main investment is a factory unit which it is buying with mortgage in my business.

In addition to the building purchase ,there are other unit trusts in the fund which were to be managed by Namulas.

However due to a payment, or Admin error years ago my fund was paid up early on ( what ever that means) now I have a SIPP where £1k per month is deposited into an account at Namulas that generates very little intereset. It currently stands at £54 K

What should I do with this money to make a real pension fund?

I could instruct Namulas to put it anywhere.

I have asked for advise but they are a faceless organisation and of no help.

I and my business partner are very busy and never have the time to sort out this bombshell.

Please help me to get this money working as I retire in ten years and have nothing else in the pot.

Regards

Goldfinger

Hi -- I would honestly contact the Pensions advisory service over this important matter, the difference could save you ££££'s, for the cost of a local call they will provide you with free impartial and accurate advice on all aspects of pension investments.

http://www.pensionsadvisoryservice.org.uk/

Goldfinger

I just came across this message as i was googling for Namulas - looking for a contact address. I'm Chartered Financial Planner and havent seen or heard of Namulas for years - in fact i thought they had given up the ghost years ago. They used to be a nice little outfit when they part of the old National Mutual, but when Nat Mut was sold off they seemed to lose their will to live!

The reason i was looking for them was that i have just been approached by a new client who has a very similar problem to yours - but one which is very easy to resolve.

I suspect, if you have already approached the PAS, they will have told you the same thing - that you need advice. It doesnt need to be expensive and it will certainly put you in a much better position than you are now (I cant tell you what the best advice is, because this is an unregulated site.)

Go to http://www.findanadviser.org/faa.aspx and look for a Chartered Financial Adviser, and have a chat.!

Marc Ruse CFP

Just to clarify, pensions advice is far from the exclusive domain of Chartered Financial Planners (who are IFA's). A Chartered Financial Planner is an IFA with additional technical qualifications, as is a Certified Financial Planner. Very few IFA's wouldn't be able to deal comprehensively with pensions queries.

Brian