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Serps
fileydave
Posts: 15 Forumite
I have a small contracted out pension plan with Scottish Life with protected rights of approx £20K.
This used to be held under trust by my former employers until they decided they wanted out and passed responsibility to SL.
A year ago I received a statement from SL saying that in line with the policy 1.15% was being added as annual interest. On protesting to SL re profiteering etc I was told that I could not switch funds.
I have now challenged them again regarding transfering this to another provider and they have sent me a transfer request form.
As I am in the fortunate position that I am not desparate for an income from this I wonderered if any fools could make any suggestions.
If I could take 25% of this as a Tax Free lump sum I would of course take that
This used to be held under trust by my former employers until they decided they wanted out and passed responsibility to SL.
A year ago I received a statement from SL saying that in line with the policy 1.15% was being added as annual interest. On protesting to SL re profiteering etc I was told that I could not switch funds.
I have now challenged them again regarding transfering this to another provider and they have sent me a transfer request form.
As I am in the fortunate position that I am not desparate for an income from this I wonderered if any fools could make any suggestions.
If I could take 25% of this as a Tax Free lump sum I would of course take that
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