Equitable Life with profits pension / takeover.

archer123

With the current markets, I'm just glad I sat of my hands and stayed invested in cash.
At least those who did the same, either by choice or because of delays still have their uplift intact.

Eldi_Dos

Although those in group schemes it would have been the trustee's who would have made the investment choices and as many are finding a lot of trustee.s are in purdah at the moment.

maxi56

pensionpawn said:

So, Utmosts's official response, via email, relating to my Sipp provider initiating a pension transfer request is no different i.e. "we do not communicate directly with clients and you must contact the trustees / administrators" (Scottish Widows) who as we all know will not contact Utmost due to a 'contractual issue'. I will call the Ombudsman tomorrow and will set up a separate thread for this issue where anyone who is in a similar situation can add their own experience, potentially leading to a 'class action' co-ordinated approach through the Pension Ombudsman and / or independent legal channels.

Thank you for the information, if you can let us know what the thread will be called, also how many complaints do the ombudsman require for a ‘class action’.

i raised my complaint last Tuesday with the ombudsman, I will also call them tomorrow.

pensionpawn

maxi56 said:

pensionpawn said:

So, Utmosts's official response, via email, relating to my Sipp provider initiating a pension transfer request is no different i.e. "we do not communicate directly with clients and you must contact the trustees / administrators" (Scottish Widows) who as we all know will not contact Utmost due to a 'contractual issue'. I will call the Ombudsman tomorrow and will set up a separate thread for this issue where anyone who is in a similar situation can add their own experience, potentially leading to a 'class action' co-ordinated approach through the Pension Ombudsman and / or independent legal channels.

Thank you for the information, if you can let us know what the thread will be called, also how many complaints do the ombudsman require for a ‘class action’.

i raised my complaint last Tuesday with the ombudsman, I will also call them tomorrow.

https://forums.moneysavingexpert.com/discussion/6112141/utmost-former-equitable-life-scottish-widows-pensions-complaint-via-pensions-ombudsman#latest

hardshouder

Can folks confirm how long it took to complete the transfer to another pension provider ?

New_World_Man

Over 3 weeks since I started the process. Status remains “pending” according to Vanguard website.

couriervanman

archer123 said:

With the current markets, I'm just glad I sat of my hands and stayed invested in cash.
At least those who did the same, either by choice or because of delays still have their uplift intact.

Same here.....one of my better decisions of late

jsinc

hardshouder said:

Can folks confirm how long it took to complete the transfer to another pension provider ?

About a month - https://forums.moneysavingexpert.com/discussion/comment/76905730/#Comment_76905730

BlondeHeadOn

couriervanman said:

archer123 said:

With the current markets, I'm just glad I sat of my hands and stayed invested in cash.
At least those who did the same, either by choice or because of delays still have their uplift intact.

Same here.....one of my better decisions of late

I did too, so glad I did.
Can I check what happens after 6 months though? I can't find my original transfer documents with the various options outlined, but I seem to recall that the cash option is until July 2020 - what happens after that?  
Thanks for any info, I can't find things on the Utmost website.

POPPYOSCAR

BlondeHeadOn said:

couriervanman said:

archer123 said:

With the current markets, I'm just glad I sat of my hands and stayed invested in cash.
At least those who did the same, either by choice or because of delays still have their uplift intact.

Same here.....one of my better decisions of late

I did too, so glad I did.
Can I check what happens after 6 months though? I can't find my original transfer documents with the various options outlined, but I seem to recall that the cash option is until July 2020 - what happens after that?  
Thanks for any info, I can't find things on the Utmost website.

It automatically gets moved into one of their unit linked funds