Legal and General Transfer to Reassure

krn

Hello Everyone!

Re Legal And General moving some peoples pension to another company, Reassure. I started a Stakeholder pension in 2002, still paying in, and have not retired yet.
Does anyone know if those affected by this change have to accept it? I joined Legal and General, and am unhappy that at this stage of my membership, this company can move me on to another company whether i like it or not.

Linton

L&G have sold the business to Reassure so you cannot stay with L&G. Your existing pension should carry on under the same conditions as before. Or you have the same options as you always had to transfer elsewhere.

Malthusian

krn wrote: »

Does anyone know if those affected by this change have to accept it?

Nope, you can transfer the pension elsewhere.

In itself the transfer is a strange reason for doing so, as all the terms of the pension will remain the same for the moment. But if you haven't reviewed for a while whether the stakeholder pension is the best option, no time like the present. Most stakeholder pensions are expensive and poor value for what they offer.

I joined Legal and General, and am unhappy that at this stage of my membership, this company can move me on to another company whether i like it or not.

Legal & General / ReAssure probably aren't that happy that you have exactly the same right to transfer your contract somewhere else if you so choose, whether they like it or not. But if you do, sucks to be them.

SonOf

Does anyone know if those affected by this change have to accept it?

No you do not have to accept it. You can transfer your pension to another provider if you feel inclined.

I joined Legal and General, and am unhappy that at this stage of my membership, this company can move me on to another company whether i like it or not.

L&G havent cared about you in over a decade. So, why do you want to stay with them?
(stakeholder pensions became a less common option after 2005 as personal pensions started to price in cheaper. L&G decided not to continue in the market competitively and effectively threw the towel in when they sold cofunds. They dont want you and that is why they are selling their book).

Baalmaiden

So would it cost the original poster to move to another provider?
What would be a good choice of provider?

SonOf

So would it cost the original poster to move to another provider?

No. its a stakeholder pension.

What would be a good choice of provider?

Insufficient information to know.

Albermarle

Here is a link to another thread on the same subject and within that there is a link to a previous thread ( there have been a lot on this subject )
https://forums.moneysavingexpert.com/discussion/6035787