Transfer of Occupational scheme to new Skandia CRA

Fatenbread

OK, so further to my earlier posts on my pension oddyssey, I have now managed to find two execution-only brokers who will set up the Skandia CRA for me.

The only snag is that neither of these brokers have the required FSA registration which enables them to set up transfers from my existing occupational pension scheme.

I am going ahead with setting up the new Skandia CRA for my future pension contributions (which they can do) in any event.

Question is, can I get my current (employer) pension fund to transfer my investment credits to the Skandia CRA after it is set up, without any broker / IFA intervention?

Otherwise it's staying put - I'm not paying anyone to state the obvious to me, just so that I can have my own money where I want it.

NB: The occupational scheme has no benefits over a personal pension, and I don't need an illustration to work this out - it is defined contribution, there is a choice of about 6 funds in total, and my current firm stops paying the AMCs on my behalf from the date I cease to be employed,

brianrhill

if its a DC scheme, just ask the insurer for a set of discharge forms, complete them, and follow the process. You can set up your new Skandia one in the meantime. Very few IFA's will do execution only - we're advisers, not order takers

Fatenbread

brianrhill wrote: »

if its a DC scheme, just ask the insurer for a set of discharge forms, complete them, and follow the process. You can set up your new Skandia one in the meantime. Very few IFA's will do execution only - we're advisers, not order takers

Thanks. I assume by insurer you mean the provider of my existing employer pension fund?

And under the process you suggest, does this bypass the broker (so that my previous employer fund goes straight into my Skandia fund?

I appreciate that an IFA is there to provide advice and wants / deserves paying for that advice.

However I don't wan't any advice - I just want the Skandia CRA PP, and my existing pension fund from my previous employer transferred into it, and want to use an execution-only discount broker to achieve this. The FSA's registration requirements appear to be getting in the way.