Annuity fund

EdInvestor

DavidLaGuardia wrote: »

I beleive this can be overcome thorugh getting Standard Life to issue the Tax Free cash then transfer the remaning fund to the company offering the drawdown contract by getting Standard to proved certified figures based on the date, the precise value etc. tocorrespond with GAD rates. The new company then uses these figures as if it had issued the TFC itself and Standard Life treat it as an Open Market Opton.

Effectively you have to put it into drawdown with SL first, and then transfer the drawdown to your chosen provider.

It is nevertheless a disgace tha Standard are applying rates after the end date i.e. retirement.

Anything to extract money to top up the WP fund, the way they go on you'd think there was a gaping hole in it, like Equitable Life...:rolleyes:

DavidLaGuardia

EdInvestor wrote: »

Effectively you have to put it into drawdown with SL first, and then transfer the drawdown to your chosen provider.

Effectively yes, but the fundamental difference is that the method avoids Standard Life charging you for setting up a drawdown policy as you don't enter into the terms of their contract.