Transfer of Dormant FSAVC

wittyname

My wife has a dormant FSAVC taken out with CIS when she was in the Local Government Pension Scheme. She also has a stakeholder pension with the same provider and both appear to us to be performing quite poorly. If possible we would like to transfer out the value of both policies into a new pension with a different provider but we are finding it difficult to locate a suitable and willing partner. The fund values are not huge (About £5k each) and we currently contribute £65 gross per month to the Stakeholder Pension. Question is who will take a transfer from a dormant FSAVC and is the time right to make a change ?

dunstonh

Question is who will take a transfer from a dormant FSAVC and is the time right to make a change ?

Any personal pensions, stakeholder or SIPP provider. Only AVCs have issues which may put providers off from doing the transaction without advice. FSAVCs dont exist any more and are now classified as personal pensions. A number of CIS plans from the 90s or earlier have guarantees and it can be hard to justify some of those being transferred. However, later ones are often much easier to justify.