Equitable Life with profits pension / takeover.

pensionpawn

Update: There is still a 'contract issue' between Utmost (however they neither confirm or deny this) and my group scheme administered by Scottish Widows (they admit there is an issue). Long story short I (and anyone else in the group plan) can not access any information about our pension e.g. value and can't transfer it. I've just told the administrators that they are preventing me access to my money and that the situation is about to go nuclear as I want to transfer my pension and invest where I feel gains are to be made. FSA issue no doubt.

POPPYOSCAR

Notnobody said:

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?

POPPYOSCAR

I have just taken a flexible lump sum
Ring them and ask for a form.

The money was paid into my bank account about 10 days after I returned the form.

pensionpawn

POPPYOSCAR said:

I have just taken a flexible lump sum
Ring them and ask for a form.

The money was paid into my bank account about 10 days after I returned the form.

I had just come off the phone to Utmost and my group administrators earlier this afternoon. Utmost can't act unless they receive my instruction authorised by my administrators and they advised that they are not presently communicating with Utmost. I have lodged a complaint with the administrators and advised them that they will soon receive a request from a very large pension company requesting that my funds are moved from Utmost to them. If this is denied then I / my receiving pension company will press the 'Regulators' button.

smasham007

Does anyone know what the general consensus of opinion is with regards to staying or going? I personally had never heard of Reliance/Utmost life before all this carry on with winding up EL.
I intend to start taking chunks out of my pot later this year, or maybe even use drawdown, but I feel I don’t know enough about this company’s track record to feel confident with them looking after my pot, unlike say Aviva or the Pru for example. The easiest thing to do is leave it with Utmost, but is it the cheapest/best or most efficient thing to do?
Does anyone else have the same reservations as me?  
Your thoughts please dear readers. Ta.

hardshouder

As I can't decide. I will try looking for other pension providers who can offer flexible options -
A fixed term annuity
Drawdown
Further pension contributions

Guidotkp

I haven’t received my uplift letter yet (standard with-profits UK policy), but it seems some people received them well over a week ago. Have most people heard now or are others in the same boat as me?

Eldi_Dos

Guidotkp said:

I haven’t received my uplift letter yet (standard with-profits UK policy), but it seems some people received them well over a week ago. Have most people heard now or are others in the same boat as me?

Got letter from Group scheme trustees  on 13/2 dated 7/2, well pleased.

dave_hendy

I have heard about my 2 private pensions but not about my group one, it did say it might be mid 2020 before you got any information on that one!!

maxi56

I have had the same issue with Utmost pointing me in the direction of Scottish widows.  

SW are going to e mail the reasons for the delay, I took the decision to move my pension so it is being held in the 6 month pot, however I have said to SW that I will be expecting compensation,  as at no point was I informed that I was not Allowed to talk to Utmost.  I cannot believe that the agreement to “to talk to each other” was not set up last year

Utmost will not give me any information on what my uplift was.

anybody else in this position.

frustrated