can't transfer without a financial advisor

dunstonh

I thought that money purchase schemes could be transferred into Personal Pensions.

personal schemes can. Occupational ones can still have restrictions. Where there is GMP it can get more complicated and whilst the regulator changed some of the classifications a lot of firms have internal rules to protect themselves and their policyholders.

t says on it " Trustee proposed section 32 buy out " if that makes any difference ?

It does. That means it is not a personal pension but a section 32 buy out bond. These are classed as occupational pensions. S32s got automatic transitional relief in 2006 which can be beneficial (and would be lost on transfer). They also frequently have GMP and older ones often have GARs.