Iii

darren72

wstevew wrote: »

II are blaming the mistake on HL saying the initial valuation provided by hl showed the wrong fund.

This occured with me, although HL admitted to making a mistake on my valuation.

One more reason I'm glad I'm leaving HL...

planteria

wow...continues to be a concern.
what we can all take from this is: be vigilant, and check every holding that transfers. the process isn't smooth & double checking everything seems to be essential

planteria

i have holdings in my ISA:lovethoug

wstevew

They have not called back today, but I did log in and it seems they have resolved the problem.

And I have a secure message "Transfer complete".

sabretoothtigger

holy smokes, so they just lost 8.5k just like that. They gave you same amount of units in income as the accumulation had, seems alot.

If its a really obvious mistake, Im sure they'll clear it up in time. I just dont trust them where the fine print might allow them to say thats just too bad matey.

When I transferred a sipp it was all in cash, from sl to hl as they had no funds exactly the same really so I didnt even attempt that one.
Took about a month, I was trying to time it so I was out of market as it fell and I think I almost got it right except I should have jumped back in the second I landed at hl as it was just a new year blip down (after an xmas rally)

Sell in may could be fortuitous but I guess not many take the extreme of a cash transfer. May to july was a good pullback in 2009 and probably a few other times

planteria

i think as long as we are vigilant should all be ok

i forgot to mention that II told me last week that "SIPPs can take up to 6 months to transfer"

Freecall

Pensions don’t take 6 months to transfer, the providers choose to delay the process to take 6 months.

This is yet another example of where the financial services industry has found an area where the regulator is silent (there are no time constraints) and chooses to exploit the situation for its own gain.

Then, when they push things too far, the regulator steps in to force them to act more in the interests of the investing public. This regulation is then worn as a kind of badge of honour to show how as a regulated industry, they are pure and wholesome.

I can think of no intrinsic reason why moving a pension account should take any longer than moving a bank account.

Remember when the banks said that was so difficult it had to take months.

xylophone

Update - the transfer of funds had completed by 27 March but a tiny cash balance did not reach the account until 11 April - apparently the cash incentive (even though it related entirely to in specie transfer of funds), will be paid within 28 days of 11 April........

And the cash incentive has now appeared.:T

le_loup

I'll alert the media - One Customer Happy!

xylophone

I'll alert the media - One Customer Happy!

No, no, I want to go viral on twitter.....:rotfl: