Starting a SIPP

shakauk

Hi 1st post go easy

I have been private investing for a while and have decided I would like to move some of my older pensions into a SIPP.

I have around 30k of plans that are with Standard Life that are no longer recieving contributions that I would like to start with. I've done some research and am thinking i'll go with Sippdeal in the 1st instance.

Problem I have is getting started foolish me figured would be as easy as contacting Standard Life and explaining the situation and they would assist me with the process.
In all honesty they talked to me like I was mad and I couldnt get a definitave answer how to go about transferring the funds. The best I could get was "you will need a financial advisor to deal with this for you" To be honest my mind is made up I dont see the need for a Financial Advisor I just want to transfer the funds!

Can anyone offer any assistance?

I see there is a transfer form on Sippdeal's website but as much use as SL were I dont know if I would be transferring just cash or cash and assets?

Any info appreciated.

Thanks in advance

dunstonh

To be honest my mind is made up I dont see the need for a Financial Advisor I just want to transfer the funds!

Providers would only tell you that if you are asking advice or opinion. For factual information you dont need an IFA. So, its probably down to what you are asking rather than not being able to do what you want.

Old_Slaphead

My experience - I switched all my old pension funds to cash and then requested the transfer from ScotWid (in my case) via the SippDeal transfer form. For good measure I also sent a letter to ScotWid to tell them what I was doing. It didn't need be done this way but I didn't want the fund values plummeting during the week or two that the transfer took when the funds would be effectively out of my control.

The old pension company then liquidated the funds before transferring the cash across.

Presumably if I'd wanted to transfer assets (which I didn't as it was mostly inhouse funds) it would have been done 'in specie' which would have cost me.

IgOt4sKiNs

All you have you have to do is call the Standard Life Claims area and request to Transfer the funds to SippDeal, you would have to have some information from SippDeal before making this call as Standard Life will have to know, bank details, reference etc... before they can proceed. You will not need a financial advisor to TV out so no idea why this was mentioned, "maybe" you came across as unsure so they thought it would be the best option.