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Help moving from Pearl
seabrook_3
Posts: 2 Newbie
Having been alarmed by the posts on how bad pearl pensions are I am looking to transfer.
I have an existing AVC with pearl which I am paying £100 per month into, I also have around 5,000 in an old group personal pension with standard life. Standard life keep writing to me about Serps, so I assume this is where these are being paid into.
My plan is to use a discount broker (someone like cavendish online) to set up a new policy and transfer in the 2 funds.
My concern is that I am missing something, is it really that simply to transfer?
I have an existing AVC with pearl which I am paying £100 per month into, I also have around 5,000 in an old group personal pension with standard life. Standard life keep writing to me about Serps, so I assume this is where these are being paid into.
My plan is to use a discount broker (someone like cavendish online) to set up a new policy and transfer in the 2 funds.
My concern is that I am missing something, is it really that simply to transfer?
0
Comments
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My concern is that I am missing something, is it really that simply to transfer?
No its not.
You have an FSAVC. If you are still in the occupational scheme you were in when you commenced the Pearl FSAVC, then you cannot transfer it.
With the SLife GPPP, you may find it's better where it is. SL GPPPs often have good charges and the SL fund range is very good. Moving out of SL can often be a backwards move.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
My FSAVC was taken out when I was in the SL scheme. I am not paying into the SL scheme any more, they keep writing to me informing me it may be better off opting back into serps (or serps2).
If it is not that straight forward then, I think I would be best talking to someone.
Thanks0
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