Legal & General Blocking Pension Transfers

dunstonh

BH most IFA are a waste of space only interested in their own pockets, that's why you never see a league table of IFA's who have consistently out performed the market for their clients

Why would you see a league table showing that?   IFAs are not investment managers.   

a decent mutual fund will beat 98.77% of IFA. Fact!

If that is the extent of your knowledge then you really shouldn't be picking your own investments.  You are just embarrassing yourself with comments like that.    Clearly its not just 5% of your portfolio you do not know about.

Prism

paulbyrne60 said:

dunstonh said:

Duns you are missing the point, Mate,  the property fund is less than 5% of my portfolio yet L&G are blocking the whole portfolio, so no partial xfers allowed, which is stopping my plans to draw-down an income, no draw-down no income, surely as a so called FA you can see the problem here, Yes.

I'm not an FA.  I am an IFA.

You have a product (probably an older one seeing as its L&G) and it doesn't offer the functionality of a modern plan.    Why do you think it should?   Do you moan that old black & white TVs don't display ultra high definition?  Or iPhone 1s don't do what the latest Iphone does?

It is normally recommended that you plan in advance of retirement. i.e. put your pension in the position you want it in around 6-12 months prior to drawing on it and not leave it to last minute. 

IFA or FA get over yourself.   
"I can understand your frustration certainly.  However, you cannot blame L&G."
As an I-FA  why do you feel its ok to lock in 95% of my portfolio when less than 5% is suspended, please share your logic without reference to some obscure analogy Duns

You are the one that bought an open ended property fund in an old pension which doesn't allow partial transfers. Now you want to transfer in a hurry. Maybe you should have stuck to a multi asset because to me this was always likely to be a problem.

Gary1984

Prism said:

paulbyrne60 said:

dunstonh said:

Duns you are missing the point, Mate,  the property fund is less than 5% of my portfolio yet L&G are blocking the whole portfolio, so no partial xfers allowed, which is stopping my plans to draw-down an income, no draw-down no income, surely as a so called FA you can see the problem here, Yes.

I'm not an FA.  I am an IFA.

You have a product (probably an older one seeing as its L&G) and it doesn't offer the functionality of a modern plan.    Why do you think it should?   Do you moan that old black & white TVs don't display ultra high definition?  Or iPhone 1s don't do what the latest Iphone does?

It is normally recommended that you plan in advance of retirement. i.e. put your pension in the position you want it in around 6-12 months prior to drawing on it and not leave it to last minute. 

IFA or FA get over yourself.   
"I can understand your frustration certainly.  However, you cannot blame L&G."
As an I-FA  why do you feel its ok to lock in 95% of my portfolio when less than 5% is suspended, please share your logic without reference to some obscure analogy Duns

You are the one that bought an open ended property fund in an old pension which doesn't allow partial transfers. Now you want to transfer in a hurry. Maybe you should have stuck to a multi asset because to me this was always likely to be a problem.

Or consulted an IFA?