Hargreaves lansdown transfer out

koops

Hello,I started a HL sipp less than 12 months ago and I want to transfer out..I've read the terms and conditions and as far as I can see there is no charge to do this. But,is this the case as I have been investing less than 12 months. Reason is...its not for me...apart from the tax relief I've made nothing so I want to transfer to my company's 'steady' DC Group Flexible Retirement plan and leave it to them!...koops

mcooke999

You are correct, there are no exit charges.

When you say you've made nothing, that because you've been investing less than 12 months and we've just had quite a large drop in the markets due to the Coronavirus outbreak.

What funds have you got your money in out of interest?

koops

Hi...ye just low risk bonds....Royal London, Morgan Stanley etc...I agree I haven't give it time but its everyone to there own and to me ...a brickie...this is like gambling...Will I have to convert my stocks to cash if I transfer..cheers

Albermarle

Most likely your workplace Group retirement plan is specific to that provider , so yes you will have to transfer in cash .
In any case it tends to be a lot quicker in cash . Do you know that you ask the workplace scheme to organise the transfer, and there should be no need to inform HL yourself.