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

HappyHarry

Where did this 97% figure come from?

xylophone

Does anyone on this forum know of a provider who will accept negative feedback. 

Do you mean a provider who will accept an "insistent client"?

Discussion referenced here

https://forums.moneysavingexpert.com/discussion/comment/78912402/#Comment_78912402

may be of interest.

Marcon

mullsy said:

Does anyone on this forum know of a provider who will accept negative feedback. I believe that the rejection rate is as high as 97% with that in mind. the FCA forcing people to spend money on tacking advice is surely misleading pay your ten grand to be told no. only in exceptional circumstances eg imminent death or terminal illness  would be passed as a yes every otherone is a no.

Imminent death or terminal illness are often good reasons not to transfer out of a DB scheme particularly if the scheme offers serious ill health commutation and there are survivors (spouse/eligible children) who would receive pensions. Also if someone transfers and dies within 2 years of making the transfer, there are often punitive tax consequences.

dunstonh

. I believe that the rejection rate is as high as 97% with that in mind.

That figure does not match reality.    The number of transfers taking place is more or less back to what it was before the dodgy factory line companies got involved.  Goodness knows where you got that from as it hasn't been at 1 in 10 for about 15 or so years.  its more like half at the moment.

 the FCA forcing people to spend money on tacking advice is surely misleading pay your ten grand to be told no.

Nobody if forcing you pay £10k to be told know.  Any company quoting you a figure that high doesn't want to to it.   There are plenty charging around 3500-5000.

only in exceptional circumstances eg imminent death or terminal illness  would be passed as a yes every otherone is a no.

not true.

No pension freedom here and by the way it doesnt apply to DB pensions, 

Pension freedoms were never originally aimed at DB pensions.  It was more of a by product of the changes.