Who will accept a DB to SIPP transfer from "insistent client"

dunstonh

stardust23 said:

I enquired with Aviva about Stakeholder Pensions and they said that I can only open one through a Financial Adviser (or an Employer).  Is this correct?

I want to try the DB --> Stakeholder Pension --> SIPP route !

And I do not want to have to pay a single penny more than is necessary.

Yes it is correct.  Aviva's direct to consumer option is not a stakeholder pension.     Aviva's stakeholder product is intermediary only.

Why not use Pensionbee now you know that option is available to you?

stardust23

dunstonh said:

Why not use Pensionbee now you know that option is available to you?

Does Pensionbee do Stakeholder Pensions?

(I just want to get my money out of my DB and eventually into a SIPP so I can it invest in precious metals, primarily gold).

dunstonh

stardust23 said:

dunstonh said:

Why not use Pensionbee now you know that option is available to you?

Does Pensionbee do Stakeholder Pensions?

(I just want to get my money out of my DB and eventually into a SIPP so I can it invest in precious metals, primarily gold).

They don't but they are now the only known company that accept DB transfers from insistent clients overruling advice.  (sorry, I assumed you knew this but with the number of DB transfer threads on the go currently, its hard to keep track which one is which)

Marcon

dunstonh said:

stardust23 said:

I enquired with Aviva about Stakeholder Pensions and they said that I can only open one through a Financial Adviser (or an Employer).  Is this correct?

I want to try the DB --> Stakeholder Pension --> SIPP route !

And I do not want to have to pay a single penny more than is necessary.

Yes it is correct.  Aviva's direct to consumer option is not a stakeholder pension.     Aviva's stakeholder product is intermediary only.

Not if their application form (and it's recent - dated 06/21) is anything to go by: https://connect.avivab2b.co.uk/adviserPublicProductDocuments/SP01006?productCode=2006

stardust23

dunstonh said:They don't but they are now the only known company that accept DB transfers from insistent clients overruling advice.  (sorry, I assumed you knew this but with the number of DB transfer threads on the go currently, its hard to keep track which one is which)

I am new to this. This was the first thread I read yesterday as I received my CETV this week. I want to move it - in fact, I am going to move it (myself). I just wanted to know the quickest and cheapest method of doing it, as I do not want to pay an 'expert' a single penny if I don't have to.

Thank you for your help. I will look at Pensionbee.

So I still need FA advice, even though I'm going to ignore it?

Pablo7474

Just out of interest, why do you want to transfer out and invest in gold? 

Marcon

stardust23 said:

dunstonh said:They don't but they are now the only known company that accept DB transfers from insistent clients overruling advice.  (sorry, I assumed you knew this but with the number of DB transfer threads on the go currently, its hard to keep track which one is which)

I am new to this. This was the first thread I read yesterday as I received my CETV this week. I want to move it - in fact, I am going to move it (myself). I just wanted to know the quickest and cheapest method of doing it, as I do not want to pay an 'expert' a single penny if I don't have to.

Thank you for your help. I will look at Pensionbee.

So I still need FA advice, even though I'm going to ignore it?

Yes. The DB scheme won't release your funds until they have proof you've received proper advice (they don't need to see the advice or know what it says).

dunstonh

Marcon said:

dunstonh said:

stardust23 said:

I enquired with Aviva about Stakeholder Pensions and they said that I can only open one through a Financial Adviser (or an Employer).  Is this correct?

I want to try the DB --> Stakeholder Pension --> SIPP route !

And I do not want to have to pay a single penny more than is necessary.

Yes it is correct.  Aviva's direct to consumer option is not a stakeholder pension.     Aviva's stakeholder product is intermediary only.

Not if their application form (and it's recent - dated 06/21) is anything to go by: https://connect.avivab2b.co.uk/adviserPublicProductDocuments/SP01006?productCode=2006

I have given it a speed read but can't see anything to say they dont accept it without an intermediary.  What bit are you looking at?

They allow the pension to be set up non-advised (like many providers on the intermediary side) but it must be transacted via an agency (intermediary).

Diplodicus

Marcon said:

dunstonh said:

stardust23 said:

I enquired with Aviva about Stakeholder Pensions and they said that I can only open one through a Financial Adviser (or an Employer).  Is this correct?

I want to try the DB --> Stakeholder Pension --> SIPP route !

And I do not want to have to pay a single penny more than is necessary.

Yes it is correct.  Aviva's direct to consumer option is not a stakeholder pension.     Aviva's stakeholder product is intermediary only.

Not if their application form (and it's recent - dated 06/21) is anything to go by: https://connect.avivab2b.co.uk/adviserPublicProductDocuments/SP01006?productCode=2006

"Where the transfer originates from a defined benefit scheme and is the result of an enhanced transfers exercise, Aviva must be the default product provider and advice to transfer must have been given by the default adviser appointed for the exercise. If this is not the case, Aviva is unable to accept the transfer."

xylophone

So I still need FA advice, even though I'm going to ignore it?

Have you done any research at all?

See https://www.pruadviser.co.uk/knowledge-literature/knowledge-library/pension-transfers-conversions/

https://adviserbook.co.uk/