If you have a QROPS/SIPP with Isle of Man provider Prophecy Pension Trustees Limited, then you will either have just received or be just about to receive a letter advising you of their voluntary liquidation.
While this has come as a surprise, it should be nothing to get overly concerned about as the liquidation only applies to Prophecy’s assets and has no impact on your pension.
The liquidator, Browne Craine & Co., is working to find another service provider and will be in touch regarding this shortly (assuming that they have your correct contact details).
In the mean time, I suggest that you contact your financial adviser, if they haven’t been in touch already, for an update.
For those of you who don’t have anyone advising you on your Prophecy QROPS/SIPP, I will try to post updates on this blog as and when I have them.
I am not surprised this company went into liquidation since my fund decreased in value by ca 75% in the period November 2008 to July 2012.