Pension - transfer from Natwest Life to Standard Life

anotherdollar

I would like to transfer a Natwest Life pension fund to Standard Life. Natwest Life seems very inflexible in comparison to Standard Life and their historical fund performance isn't as good.

Is it an easy process?

Is it possible to do it without talking to financial adviser (so can I do it via their website & the post without advice)?

Is it better to do it via a Fund Supermarket to achieve a refund on the advice commission that I do not require?

Are there any charges for doing so?

EdInvestor

Do it via a discount broker eg

https://www.cavendishonline.co.uk

dunstonh

Is it an easy process?

Not too bad. Discharge forms from the current provider and transfer application from the new provider. CA forms requried from HMRC if protected rights are involved.

Is it possible to do it without talking to financial adviser (so can I do it via their website & the post without advice)?

It is. However, if you go direct to provider you will usually pay the same charges as if you do get it from an adviser. Often the product in the websites is inferior as well (more limited fund choice).

Is it better to do it via a Fund Supermarket to achieve a refund on the advice commission that I do not require?

Depends on whether you are looking at a fund supermarket pension or a SIPP. Some of the fund supermarkets require you to use an authorised firm (such as Cavendish who Ed have suggested). I dont believe Cavendish will transact with all companies either on execution only basis.

Are there any charges for doing so?

Early Natwest plans did have a transfer penalty but I dont think they charge them any more. The transfer documentation would confirm that. The plan you go to could have charges depending on the type of pension you choose and the provider and funds you utilise.