Pension transfer - 'Final Bonus' mystery.

german_keeper

TVAS said:

The trouble is they do not hire intelligent people who would challenge nonsense like this with their employer.

What a ridiculous and disrespectful comment - again!

OldMusicGuy

dunstonh said:

I transferred a with profits SL pension to my SIPP. I got the same story from SL, they refused to say what the final bonus would be if I transferred.

If you asked the question like that then I can understand them refusing as it's an impossible question to answer.  If you asked what the current final bonus accrued to date is then you would expect an answer.

Which is exactly what I knew already because it was on the statement. I asked if they would apply any MVR when I transferred and that is what they would not tell me. They said they could only give the actual transfer value including any potential MVR when I transferred it. I had a pretty recent statement so I knew the actual final bonus would not change much (which it did not).

My conundrum was that if there was an MVR applied I would leave the pension where it was, if no MVR then I would transfer it. And that's what they would not tell me, which I felt was not helpful, but then HL were very helpful and solved the problem for me. 

PJD

Aviva sent me a transfer quote (which included final bonus), - and I have gone ahead with this, - Standard Life have said that it makes sense that I will recieved the final bonus.  I am transferring it into my work pension:
- as it offers discounted charges
- easier to manage less pensions when I retire
- Found Standard Life customer service to be superior to Aviva - just my experience
- SL website much easier to navigate and view my plans and funds

Thanks again everyone