Best provider for drawdown?

gallygirl

zagfles wrote: »

If you want to transfer you'd usually just get the new provider to sort it - you shouldn't even need to contact FL, the new provider should do that.

FL won't fill in the new provider's form, they insist on filling in their own!!!!!

dunstonh

gallygirl wrote: »

FL won't fill in the new provider's form, they insist on filling in their own!!!!!

No-one fills in the other providers forms. They all use their own. That is just the way it is.

zagfles

gallygirl wrote: »

FL won't fill in the new provider's form, they insist on filling in their own!!!!!

Eh? The way it usually works is you fill in the new provider's form, stating who you want to transfer from. The new provider should then contact the old provider and sort out the transfer.

That's what I've done in the past. No need to contact the old provider at all, or fill in any of their forms.

See http://www.hl.co.uk/pensions/sipp/transfer-to-the-vantage-sipp as an example if you transferring to HL:

Simply fill in a two-minute pension transfer form and return it to us at the FREEPOST address on the form. We will then arrange the transfer for you and let you know when you can start enjoying the freedom of managing your SIPP. Most pensions are transferred electronically, taking just 10 days on average.