Transfer SERPS pension- protected rights?

EdInvestor

diamond9 wrote: »

Is there any reason for them charging a penalty other than they like taking your money?

The reason is usually that you are breaking the original contract - normally by transferring out or retiring early.

Penalties used to be very swingeing.Some old pensions charge a penalty equivalent to all the fees they would have earned if you had stayed to maturity.Many people don't read the small print.

This is one reason why the Government insisted that stakeholder pensions had no penalties on transfers.

averageguy11

Duns...so what companies...by name plez..could i possibly use for my protected rights cash..on the basis i want to use inc drawdown.

Alphabetical order would be welcomed