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Transferring Crystallised funds
Albermarle
Posts: 31,231 Forumite
I was investigating the above for a standard DC pension, and it seems there is some variety of rules from provider to provider. From not accepting a transfer of a pot if any PCLS has been taken at all OR accepting crystallised funds after the PCLS has been taken but not if any income has been taken OR some seem to accept a transfer even if income is being taken.
Without wading through all the terms and conditions does anyone have any experience /problems transferring crystallised funds with any specific insurer or SIPP provider?
Without wading through all the terms and conditions does anyone have any experience /problems transferring crystallised funds with any specific insurer or SIPP provider?
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From not accepting a transfer of a pot if any PCLS has been taken at all OR accepting crystallised funds after the PCLS has been taken but not if any income has been taken OR some seem to accept a transfer even if income is being taken.
This is not an issue that seems to exist with intermediary providers. So, it must be DIY providers you are referring to. Can you name some of the ones you have tried and said no?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 -
Aviva said not possible to transfer crystallised funds into them .
HL and James Hay seem to be OK .
A couple of others I could not find yes or no.
I tried googling it but could not find any sensible info.0 -
Aviva said not possible to transfer crystallised funds into them .
This came up the other day. Aviva do it on the intermediary platform. They dont seem to do it on the DIY side. Whilst I quite like Aviva's new platform software, if I was a DIY investor, I wouldn't use Aviva.
You would expect most platform based SIPPs to accept it. And a provider that properly caters for the DIY market and not offering a fudged solution.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
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