Legal & General SIPP £120 Cashback - *Now Ended*

quirkydeptless

Alexland said:

ErinGoBrath said:

Transferring to Hargreaves

We are just going to leave ours with L&G for a while to see what happens with this government consultation on raising the minimum pension access age. It's only a tiny amount of money but the account might be useful in future if it gets a protected access age of 55.

I was planning to transfer mine. But it might be useful sometime in the future, maybe for a cashback bonus transfer if I feed some more money into it. It's a small sum The 0.25% platform cost and 0.31% OCF in a decent multi-asset fund is fine for the money to sit there for now. 

Also avoiding the hassle of paper forms. Cross that bridge when it comes 

Asghar

Well done Legal & General, both of ours were showing payable as well, that's before I requested a BACS transfer out.

Wonder if we can transfer out straight away or might just invest the cashback into L&G.

Alexland

ErinGoBrath said:

I will be 57 before 2018 so not an issue for me. Besides, my Hargreaves SIPP is older than my L&G pension so not an issue anyway!

Well I was thinking it might be 57 or even 58 for us too but then the government are proposing to protect people's age at 55 if they were a member of a scheme that offered unqualified access at 55 before the consultation document was published a few months ago. So we are just leaving our existing pensions alone now to see how those discussions progress. Having earlier access would be helpful.

ErinGoBrath said:

I know Hargreaves are expensive but they do a good job. Also some good fund discounts offset the higher platform charge, eg LTGE.

When we were HL customers for a few years their service never seemed any better than average and in some cases (such as transfers out) significantly worse than average but it's all down to individual experiences which can vary. I still use the HL app to track our investments held elsewhere.

bluenose1

Woohoo, nice surprise as  didn’t expect to get this.

Thanks to Blueleaf for posting this.

Alexland

My wife just confirmed that hers was paid too. Hooray for free money.

dingling68

Thank you so much for posting this. Free money is always welcome! I wonder how much they have paid out on this??

quirkydeptless

It's not entirely free, I now have to think nice things about Legal & General 

Asghar

i don't suppose anyone has transfered their SIPP away from Legal & General and whether there was a penalty for doing so.

The minimum time invested and amunt was only added in the terms afterwards to be eligible for the cashback, but we received it anyway.

Scrounger

Yes, the Scrounger household has transferred two L&G SIPPs to Fidelity without penalty.

(Cashbacks received on both prior to transfer. )

Scrounger

Asghar

Scrounger said:

Yes, the Scrounger household has transferred two L&G SIPPs to Fidelity without penalty.

(Cashbacks received on both prior to transfer. )

Scrounger

Thanks for the info.