Equitable Life with profits pension / takeover.

woolly_wombat

New_World_Man wrote: »

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

Letters arrived in the post this morning, confirming 78% uplift to both my former WP policies.

I am pleased with the outcome so far.

hardshouder

Letter today. Decision time.

Is anyone with Pensionbee ?

pafpcg

My partner received two letters from Utmost on Wed 5th, dated Mon 3rd.

The first was a "Welcome to Utmost" letter with the policy update details showing an uplift of "c75%" and the policy value at 1 January 2020.

The second letter was to confirm that the funds had been transferred that day to her annuity provider! The funds transferred were £34 more than the value at 1-Jan (indicating an interest rate or perhaps a capital gain of 0.2%pa for the 33 days).

That terminates a policy that started a month short of thirty-eight years ago.

ernie-money

Is anyone choosing to stay with Utmost, or where are you all transferring to..? If you're not yet at retirement age that is.

Rob_in

Is anyone choosing to stay with Utmost, or where are you all transferring to..? If you're not yet at retirement age that is.

Well... as discussed earlier in the thread, the investment options and management fees don't look that bad (not saying they look amazing, just that they don't seem ridiculously bad) so yes, I will stay with them. I won't be of an age to be able draw anything for several years yet.

Background: I left the UK many years ago so this pot is a small part of my pension planning. If this was my only pension or a much larger percentage of retirement savings I might think more about it. As usual, YMMV.

New_World_Man

The multi asset funds at Utmost appear to be high in UK shares (a frequent criticism of Vanguard LifeStrategy). And l still find their website difficult to find things in, particularly fees and charges and anything other than the briefest description of their investment options. It just feels as if they want to keep things hidden away. It makes it hard to compare and contrast with other companies. I’m still trying to work out what to do with my EL cash.

ernie-money

Rob_in said:

Is anyone choosing to stay with Utmost, or where are you all transferring to..? If you're not yet at retirement age that is.

Well... as discussed earlier in the thread, the investment options and management fees don't look that bad (not saying they look amazing, just that they don't seem ridiculously bad) so yes, I will stay with them. I won't be of an age to be able draw anything for several years yet.

Background: I left the UK many years ago so this pot is a small part of my pension planning. If this was my only pension or a much larger percentage of retirement savings I might think more about it. As usual, YMMV.

I read the first pages of the thread & posts from the last few months, but the info I was hoping for was obviously hidden elsewhere... I'm also a long way off retirement age & only have a few k in this pot, with several other policies, started at different times over the years, so I might just stay put too - at least I'm spreading the risk a bit, keeping money with different providers.

ernie-money

New_World_Man said:

The multi asset funds at Utmost appear to be high in UK shares (a frequent criticism of Vanguard LifeStrategy). And l still find their website difficult to find things in, particularly fees and charges and anything other than the briefest description of their investment options. It just feels as if they want to keep things hidden away. It makes it hard to compare and contrast with other companies. I’m still trying to work out what to do with my EL cash.

I would be interested to hear your thoughts once you work it out!

Notnobody

ernie-money said:

Rob_in said:

Is anyone choosing to stay with Utmost, or where are you all transferring to..? If you're not yet at retirement age that is.

Well... as discussed earlier in the thread, the investment options and management fees don't look that bad (not saying they look amazing, just that they don't seem ridiculously bad) so yes, I will stay with them. I won't be of an age to be able draw anything for several years yet.

Background: I left the UK many years ago so this pot is a small part of my pension planning. If this was my only pension or a much larger percentage of retirement savings I might think more about it. As usual, YMMV.

I read the first pages of the thread & posts from the last few months, but the info I was hoping for was obviously hidden elsewhere... I'm also a long way off retirement age & only have a few k in this pot, with several other policies, started at different times over the years, so I might just stay put too - at least I'm spreading the risk a bit, keeping money with different providers.

I am already retired and living in France.  I was pleased with the uplift amount but my pot isn't enough to produce a pension.  I was thinking of withdrawing some cash; does anyone know if I could do that immediately?  And if so how?

Jimatalveston

I would like to withdraw my cash fund and not invest it. 

Anyone know how we go about it and any costs ?