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How long???

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Wow, is this normal?

ii-sipp-xfr.jpg

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  • Malthusian
    Malthusian Posts: 11,055 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    In-specie transfer between SIPPs? One of which is I-yai-yai? I'd assume it will take longer and be happy to be surprised.
  • Albermarle
    Albermarle Posts: 27,999 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    it says ' up to ' - so hopefully it will be quicker .
    As well as both SL and II being prompt in their actions it also depends on the fund administration working well if you are transferring in specie.
  • MallyGirl
    MallyGirl Posts: 7,221 Senior Ambassador
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    one of mine took longer than that - about 3 months of chasing
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
  • fronty
    fronty Posts: 142 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    MallyGirl wrote: »
    one of mine took longer than that - about 3 months of chasing

    Oh crikey, I hope not as that means another 3 months of IFA and platform fees being pilfered from my pot.
  • shinytop
    shinytop Posts: 2,166 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    My transfer into II took about 7 weeks. I think II did all they could and it was the old scheme that was slow. I've been pleasantly surprised with II's efficiency and they are very helpful on the phone.
  • MallyGirl
    MallyGirl Posts: 7,221 Senior Ambassador
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    It wasn't ii's fault in my case either, it was the middle man registrar? who had a backlog and were really slow assigning the funds from one provider to the other.
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
  • coyrls
    coyrls Posts: 2,508 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    fronty wrote: »
    Oh crikey, I hope not as that means another 3 months of IFA and platform fees being pilfered from my pot.
    You should ask for fees not to be applied once the transfer has been started.
  • fronty
    fronty Posts: 142 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    Seems to be going okay, I had 18 contract "sell" notes from Standard Life today (my pension was invested in that many funds) and I can see I just have a big pot of cash in my SIPP now amounting to just shy of £375K, so hopefully it won't be long now until this appears in my II SIPP.

    With the election coming up I'm beginning to wonder if I should sit out of the market until it's done, just in case the result proves to be a bit of a shock (i.e. Labour win). If Boris wins do we think the markets will jump a bit or is a Tory win already priced in?
  • fronty wrote: »
    With the election coming up I'm beginning to wonder if I should sit out of the market until it's done, just in case the result proves to be a bit of a shock (i.e. Labour win). If Boris wins do we think the markets will jump a bit or is a Tory win already priced in?

    If you hadn't been transferring across would you have sold down your funds and waited until after the election before investing again?

    I assume not, so assuming you're investing in a properly diversified way then if it were me in this position then I'd be investing straight away. However if you are really worried about making the decision, then how about investing 50% now and the rest after the election.

    P.s. glad your transfer is going smoothly.
  • Malthusian
    Malthusian Posts: 11,055 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    fronty wrote: »
    With the election coming up I'm beginning to wonder if I should sit out of the market until it's done, just in case the result proves to be a bit of a shock (i.e. Labour win).

    Did you disinvest on September 3rd and reinvest on September 23rd? If not, why not?

    Because the markets might have gone up and might have gone down over that period as well, with the odds equally indistinguishable from a coin flip to an individual investor. Like every other three week period ever.

    If for some reason you were particularly worried about the effect this particular unimportant local news story would have on the markets, but were still generally happy to take investment risk to get a better return than cash, you would be thinking about investing all your money in ex-UK funds. Not cash.

    If you are not happy to take investment risk you should just cash in everything permanently.

    (From the perspective of an investor with access to developed stock markets, whose portfolio should be diversified globally, whether an economy representing 3% of global GDP decides that the proportion of state spending should be 40% of GDP or 42% is an unimportant local news story.)
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