Legal & General/Reassure Stakeholder pension transfer

S_t_e_v_e

JamesRobinson48 wrote: »

I immediately transferred all the funds in my L&G plan, as cash, to a SIPP with another provider, AJ Bell YouInvest.

James

I'm considering doing exactly what you did.

Did you have to transfer as cash or did you find it was easier or cheaper that way?

Albermarle

Did you have to transfer as cash or did you find it was easier or cheaper that way?

Normally if the funds you hold with the existing provider are available with the new provider , then you can transfer them 'in specie' in the jargon. There might be a one off charge or even one for each investment or it can be free ( depends on A J Bells' T's & C's in this case )
If the L&G funds are specific to them, then you will have to transfer in cash . Normally no charge and quicker . Of course you then have to decide what to invest the cash in on the new providers platform .( you should be sure to be happy to do this before transferring )

Albermarle

But as already mentioned do not be totally surprised if AJ Bell announce at some point they have been sold to Company X .
In which case there will be nothing particularly to worry about either .