Pension transfer out delays towers Watson

Sarah_c124

tenchy wrote: »

I was advised about the four to six week turnaround about two weeks ago, so I then got onto the pension dept. of my (former) employer, asking is there was anything they could do. They said they would look into it. Having just logged on again to the WTW website, my case is now "Being Processed", so maybe they complained on my behalf. This approach could be worth trying in your case. When all is done and dusted I will be writing to the Pension Trustees of my former employer to complain about the poor service of WTW.


It seems, from other enquiries I've made, that the HMRC check is the last hurdle, so hopefully when they complete this for your transfer it won't be too long to completion. Good luck!

How long ago did they write out to HMRC on yours?

tenchy

Sarah_c124 wrote: »

That's great news for you glad it's moved. Will you let me know what the next stage is if you don't mind/ how much longer it takes to transfer across

I just rang WTW again. They have liquidated my fund and the transfer will take place on 12 Feb. They have given me the final value. So the HMRC check would seem to be the last check; final transfer out should take place soon after. I'll keep you posted on developments.


Of course when it gets to your chosen provider that's only the start. I'll shortly be asking some questions in a new thread about the best way to take the tax free lump sum and if there are any tax implications for drawdown at this time of year - coming up to the new tax year.


I turns out the HMRC check only took two weeks - despite their (WTW) turnaround estimate of four to six weeks.

pip895

I'm going through a DB transfer out through them - My IFA keeps finding errors in the documentation. We are on our third transfer pack - apparently the latest has been sent out by snail mail but to the wrong address??

Been going on since October I'm getting a little fed up. Anyone know how long it takes to get the cash into your SIPP from the point you have sent the signed transfer request in to them?

Sarah_c124

tenchy wrote: »

I just rang WTW again. They have liquidated my fund and the transfer will take place on 12 Feb. They have given me the final value. So the HMRC check would seem to be the last check; final transfer out should take place soon after. I'll keep you posted on developments.


Of course when it gets to your chosen provider that's only the start. I'll shortly be asking some questions in a new thread about the best way to take the tax free lump sum and if there are any tax implications for drawdown at this time of year - coming up to the new tax year.


I turns out the HMRC check only took two weeks - despite their (WTW) turnaround estimate of four to six weeks.

That's is good news I've just called them as they didn't actually send my HMRC check until 19th Jan as they had a back log so hopefully I should hear something this week.

Pleased yours is moving though, will you be doing the new thread in pensions and I'll keep a look out?

Sarah_c124

pip895 wrote: »

I'm going through a DB transfer out through them - My IFA keeps finding errors in the documentation. We are on our third transfer pack - apparently the latest has been sent out by snail mail but to the wrong address??

Been going on since October I'm getting a little fed up. Anyone know how long it takes to get the cash into your SIPP from the point you have sent the signed transfer request in to them?

Mines not a SIPP transfer but once they have received those forms there was another form that needed to be completed and the the process starts which can be a while mines been 4 months now