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Transfer value is double the actual value?
rockysafc
Posts: 14 Forumite
Hi, first post for a while so please be gentle 
I have a Royal London pension which was my SERPS only contributions for a while until I opted back in. The transfer value is over £18,000 whilst the actual notional value is less than £8,000. Just curious as to the massive difference in these values? I have 3 other pension funds and am considering amalgamating them. Any help would be appreciated.
I have a Royal London pension which was my SERPS only contributions for a while until I opted back in. The transfer value is over £18,000 whilst the actual notional value is less than £8,000. Just curious as to the massive difference in these values? I have 3 other pension funds and am considering amalgamating them. Any help would be appreciated. 0
Comments
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Transfer it out to a SIPP before they change their mind!0
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There could be GMPs, GARS and any number of things to cause the difference. Call them and find out?0
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It is normal to see the transfer value much higher on with profits funds. This is because they do not include the final bonus accrued to date in the current value but do include it in the transfer value.
So, if its with profits, that will almost certainly be your reason and that is quite normal.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks for the replies guys and a very well done to dunstonh. It is indeed in a with profits plan. ��0
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