Equitable Life with profits pension / takeover.

Eldi_Dos

One would hope so. Utmost seem to be tapping into a growth area as there seem to be quite a few funds in run off suitable for conversion and I am sure the chancellor will not discourage as the tax revenues must be quite substantial if people take their funds in a tax inefficient manner.

pensionpawn

So a month after transfer and the only details that I've received is a verbal valuation over the phone during the first week of Jan. Contacting Utmost: they point me towards the group scheme administrators / trustees (who they say are still responsible, as prior the transfer, for all day to day customer interaction). They say that they've yet to receive details from Utmost..... Anyone for tennis? So having had enough, and having spoken with my SIPP platform managers, I demand that they send me a transfer pack which prompts the reply that they can't yet as they have a 'contractual dispute' with Utmost. Utmost deny any knowledge of this. My SIPP managers have offered to try to move this along if I give them authority which I shall do, however if they are also unsuccessful I have threatened the administrators / trustees with the financial ombudsman / FSA as they are effectively holding me hostage and am potentially losing out on investment gains. Anyone else in this situation too?

New_World_Man

I’m still waiting to hear anything from Utmost and we are now in to February.

jsinc

New_World_Man wrote: »

I’m still waiting to hear anything from Utmost and we are now in to February.

Same for my mum but she got valuations by calling Utmost, completed their transfer forms and initiated transfers via Aviva last week.

archer123

Keep calm!

Utmost have already offered you a choice of funds and gave you a form to complete. If you chose to 'do nothing' and stay invested in cash funds you don't lose anything.

If we were still with Equitable - we wouldn't be getting an annual valuation in January or February. Be patient - it'll most probably come soon!

Or just complete a transfer form and leave.

I

pensionpawn

archer123 wrote: »

Keep calm!

Utmost have already offered you a choice of funds and gave you a form to complete. I

No they haven't

archer123 wrote: »

If you chose to 'do nothing' and stay invested in cash funds you don't lose anything.I

I'm losing potential future gains from not being able to move into funds that are currently depressed.

archer123 wrote: »

If we were still with Equitable - we wouldn't be getting an annual valuation in January or February. Be patient - it'll most probably come soon!

Or just complete a transfer form and leave.

I

dave_hendy

New_World_Man wrote: »

I’m still waiting to hear anything from Utmost and we are now in to February.

I haven’t heard anything either, thought I would have by now, at least for my 2 private pensions if not my company one :question:

New_World_Man

I thought that their website might at least have confirmed if or when all the uplifted value confirmation letters were being sent out. The site seems a bit clunky and hardly brimming with detailed information. While I appreciate that I am hardly the most tech savvy person it is fair to say that many other websites are more user friendly. Maybe early days yet and things will improve. However, the EL transfer has been in the planning for an awful long time and they appear overwhelmed by it already.

Parkways

Yup I'm in the exact same position as you, contacted EL then Utmost then the trustees and all either denying they have the uplift values or refusing to talk to me as I'm in a group scheme which is administered by Mercer Ltd. Yesterday I received an email confirming a 35% uplift and no one can tell me why I'm not getting nearer the 70% which the market was predicting....I smell a rat !!

Eldi_Dos

That is a concern,did email give date the 35% uplift applied to.