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  • FIRST POST
    • katinkabodi
    • By katinkabodi 6th May 17, 2:04 PM
    • 2Posts
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    katinkabodi
    Transferring pension pot from Legal & General to NEST
    • #1
    • 6th May 17, 2:04 PM
    Transferring pension pot from Legal & General to NEST 6th May 17 at 2:04 PM
    Hi,

    i changed my job and want to transfer my pension pot from Legal & General to NEST. I have contacted both providers and both of them have sent me their transfer forms and want the other party to fill the form. According to the policies of both companies they do not fill other providers' forms. What am I supposed to do now? I don't want to loose my pot because the transfer can't happens as none of the providers want to fill in the forms..
Page 1
    • xylophone
    • By xylophone 6th May 17, 2:16 PM
    • 21,659 Posts
    • 12,458 Thanks
    xylophone
    • #2
    • 6th May 17, 2:16 PM
    • #2
    • 6th May 17, 2:16 PM
    You went via the above?

    Are Legal and General /your previous employer saying that you must transfer out?

    I think this business of "discharge forms" has come up before.

    http://forums.moneysavingexpert.com/showthread.php?t=5644985


    No life company fills in the discharge forms of other schemes any more and havent for the best part of a decade. They supply the required information in their own format.

    If both prove intransigent, you might try PAS for guidance.

    https://www.pensionsadvisoryservice.org.uk/pension-problems/avoiding-problems
    • rjw4
    • By rjw4 6th May 17, 4:18 PM
    • 267 Posts
    • 155 Thanks
    rjw4
    • #3
    • 6th May 17, 4:18 PM
    • #3
    • 6th May 17, 4:18 PM
    You have to complete NEST's transfer in form. Transfers usually complete via origio (electronically) and ceding providers forms are not required (L&G in your case). Check the charges for your L&G pension compared to NEST and ensure there are no 'guarantees' or protected tax-free cash. Also, NEST do not have as many funds as L&G. You won't lose the pension with L&G, you just have to keep track of it. They will send you annual statements.
    • brendon
    • By brendon 6th May 17, 5:09 PM
    • 499 Posts
    • 430 Thanks
    brendon
    • #4
    • 6th May 17, 5:09 PM
    • #4
    • 6th May 17, 5:09 PM
    Is there any reason you want to transfer into NEST? The scheme itself is not great. The fees are reasonable (assuming you are not charged a 1.8% load fee for transfers in), but the investment choices are, in my view, quite poor.
    • katinkabodi
    • By katinkabodi 17th May 17, 10:32 AM
    • 2 Posts
    • 0 Thanks
    katinkabodi
    • #5
    • 17th May 17, 10:32 AM
    • #5
    • 17th May 17, 10:32 AM
    I did go via that link, I have talked to them on the phone as well but they insisted they wouldn't fill in forms.
    I don;t need to transfer out from L&G I just thought it was better to have my money in one place.
    • AnotherJoe
    • By AnotherJoe 17th May 17, 9:32 PM
    • 6,567 Posts
    • 7,001 Thanks
    AnotherJoe
    • #6
    • 17th May 17, 9:32 PM
    • #6
    • 17th May 17, 9:32 PM
    I did go via that link, I have talked to them on the phone as well but they insisted they wouldn't fill in forms.
    I don;t need to transfer out from L&G I just thought it was better to have my money in one place.
    Originally posted by katinkabodi

    That would depend on the place wouldn't it ?

    Longer term I suspect L&G would be better and if you move employers you might get another one with Nest (so could transfer that to keep one with Nest) or with a different provider in which case maybe by then it will be easier to transfer Nest to the new scheme.

    For now, perhaps keep as is?
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