Equitable Life with profits pension / takeover.

BlondeHeadOn

POPPYOSCAR said:

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

Ah - so I need to get my skates on and find an IFA to advise me on where to move it then, by the sound of it?  
I don't fancy a unit linked fund in the present financial climate....

Notnobody

I''m guessing the amount quoted for the uplift will be falling now?  The economic situation looks grim; I'm thinking it would be best to take out as much as possible - at least in a bank I won't be losing money.  I suspect it might be too late though!

Notnobody

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.

I posted but can't see it - so apologies if it appears twice.  With the current situation I wish I'd taken as much cash as possible.  I suspect the amount quoted may already have reduced.  Still thinking of taking as much cash as I can (I'm already retired and it isn't enough to provide a pension worth having). At least in the bank it won't lose any more value.   Do you think it's too late?

POPPYOSCAR

Notnobody said:

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.

I posted but can't see it - so apologies if it appears twice.  With the current situation I wish I'd taken as much cash as possible.  I suspect the amount quoted may already have reduced.  Still thinking of taking as much cash as I can (I'm already retired and it isn't enough to provide a pension worth having). At least in the bank it won't lose any more value.   Do you think it's too late?

I am a bit confused by your post.
What exactly did you choose? Did you opt for it  to be held in a secure cash investment for 6 months or choose one of the other investment funds?

BlondeHeadOn

I'm in the position of being able to take mine out now anyway, as I am 60 and planned to just take the uplift and start drawing a pension from wherever I was advised to move it.  Not sure where to move it to now though.... 
My IFA had suggested leaving it invested until I'm 65 as I don't need to take it yet, but with current events I'm unsure what to do for the best.

hpg57

I was told by scheme that my Equitable money has been put into unit linked funds. Is that as safe as cash? 

POPPYOSCAR

hpg57 said:

I was told by scheme that my Equitable money has been put into unit linked funds. Is that as safe as cash? 

No.
The value of the units can go up and down.
Funds invested in the secure cash investment stay the same.

Notnobody

POPPYOSCAR said:

Notnobody said:

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.

I posted but can't see it - so apologies if it appears twice.  With the current situation I wish I'd taken as much cash as possible.  I suspect the amount quoted may already have reduced.  Still thinking of taking as much cash as I can (I'm already retired and it isn't enough to provide a pension worth having). At least in the bank it won't lose any more value.   Do you think it's too late?

I am a bit confused by your post.
What exactly did you choose? Did you opt for it  to be held in a secure cash investment for 6 months or choose one of the other investment funds?

I didn't choose anything as was thoroughly confused by it all, so I would have got whatever the default is.

POPPYOSCAR

Notnobody said:

POPPYOSCAR said:

Notnobody said:

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.

I posted but can't see it - so apologies if it appears twice.  With the current situation I wish I'd taken as much cash as possible.  I suspect the amount quoted may already have reduced.  Still thinking of taking as much cash as I can (I'm already retired and it isn't enough to provide a pension worth having). At least in the bank it won't lose any more value.   Do you think it's too late?

I am a bit confused by your post.
What exactly did you choose? Did you opt for it  to be held in a secure cash investment for 6 months or choose one of the other investment funds?

I didn't choose anything as was thoroughly confused by it all, so I would have got whatever the default is.

I do not know what the Group schemes situation was but if you are an individual policy holder if you did not choose anything the default was the secure cash investment for 6 months with automatic transfer after 6 months. 

So if you are an individual policyholder your money will be the same as it was when it was transfered in January (until 1st July) and you have not lost anything in the value of it
as the pice is guranteed not to fall below the price set at 1st January 2020.

Do you not have a statement fom Utmost with your Uplift? All the details are on the back of mine.

SoftCentaur

When I got my uplift figure, I read that it would be held as cash for 6 months - so when the markets started to drop, I was not too concerned. However, I had misunderstood the situation. My Equitable plan consisted of the 'With Profits' element, plus the rest - which was split between 3 of their funds, which were invested in stocks and shares.

When moved to Utmost, the 'With Profits' element was put in the cash fund for six months - but the rest continued to be invested in shares. Before I realised this, I had lost thousands.
 
So "Notnobody", if your Equitable was 100% With Profits then you still have your quoted value. If not, you would have lost a fair chunk of the remainder.  As did I.