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How to transfer out of a with profits pension fund?

suebfg
Posts: 404 Forumite
I am looking to transfer out of with profits pension fund into a different fund altogether. I understand that the transfer value can vary depending upon the position of the fund at any given time.
Is there a way whereby I can instruct the pension fund only to transfer out if the value of the fund is say within x% of its value if I were to stay in the fund?
Thanks
Is there a way whereby I can instruct the pension fund only to transfer out if the value of the fund is say within x% of its value if I were to stay in the fund?
Thanks
0
Comments
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Is there a way whereby I can instruct the pension fund only to transfer out if the value of the fund is say within x% of its value if I were to stay in the fund?
Usually not no. That sort of trading software is expensive and comes with regulatory issues that are not likely to be suitable for an old style pension contract.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 -
Would a financial advisor be able to do that? I saw one who suggested it was possible.0
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It would be a risk for a financial adviser to do it. There is software that can do it but its not mature enough and typically follows only the unit/share price. Not MVRs/penalties. However, if they want to do it then that is their choice.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
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Thanks for your advice0
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It might not be possible, inasmuch as pensions invested in With-Profits do not always allow fund switches.0
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