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Equitable Life

I've got about £7K in an Equitable Life Personal Pension. Years after the guaranteed investment debacle they remain pants (e.g. they haven't sent me a statement for 18 months, they take ages to get through to on the phone etc.), and I'd like to transfer this money to one of my other personal pensions - with Sun Life and Friends Provident. Any advice as to the wisdom of transferring to one or the other?

Comments

  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    You'd need to compare the charges, fund choices and performance of the two pensions to take a view.
    Trying to keep it simple...;)
  • marto
    marto Posts: 17 Forumite
    you need to check out the exit penalties or MVA (market value adjuster) as they confusingly call it .i think its running at 5% for equitable at the moment
  • rbulph - currently looking to move DH pension out of Equitable Life at present as the exit charge dropped to 5% in April 2007.

    You just need to check in case you have any valuable guarantees with Equitable Life before switching - you may be lucky!
    "Success is the ability to go from failure to failure without losing your enthusiasm" (Sir Winston Churchill)
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    There are no GARs at Equitable any more.You might have a GIR - guaranteed investment return - of 3.5%.

    This would only really be of interest to someone close to retirement.
    Trying to keep it simple...;)
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