I want to take CETV but firm is running down the time waiting for call back to move things along

Prism

dunstonh said:

Why do I have to use a intermediate scheme? I understand I can just go straight to interactive investor SIPP

If the advice is not to transfer and you still want to do it, then this makes you an insistent client acting against advice.   II will not take insistent clients.   And nor will AJ Bell as of this week. 

Interesting, I hadn't noticed that they had changed the wording on their FAQ. 

AlanP_2

RoadToRiches said:

dunstonh said:

Why do I have to use a intermediate scheme? I understand I can just go straight to interactive investor SIPP

If the advice is not to transfer and you still want to do it, then this makes you an insistent client acting against advice.   II will not take insistent clients.   And nor will AJ Bell as of this week. 

The only known plans that will take a DB transfer from an insistent client acting against advice are stakeholder pensions.  However, most of those were only available via intermediaries. So, you can eliminate them.  That leaves you with a possible handful of providers.   Standard Life potentially (but untested and its unclear if their offering is direct to client or via an internal salesforce - the latter would not work) and Forresters.

Cheers, it is Standard Life that they moved us all into as our work based pension when they closed this DB scheme to us, so I will check them out if advice came back against the transfer. Interested what would you charge for this?

You are already concerned about hitting the deadline before the CETV expires, why wait until you get a "No" to check out whether SL will accept the transfer (and if they won't who will)?

Albermarle

xylophone said:

"To help you the Trustees have appointed a firm of Independent financial advisers, XXXX, who can provide you with advice. Once you are within a year of your earliest retirement age (usually 54) the Trustees will pay for one free advice sessions from XXXX.  The trustees have also negotiated a preferential rate for members who have either used their free advice session or are not eligible for free advice and wish to use the services of XXX
XXXX will complete the Financial Advice Evidence Form if they recommend a transfer to another provider"

https://gas.nationalgridpensions.com/active/transfers

Crumbs!

Talk about holding the door open!

My ex employer offered to pay  for a completely free advice service for DB transfer + a series of Q&A seminars around the UK with a free lunch .
I still didn't bite though !

xylophone

My ex employer offered to pay  for a completely free advice service for DB transfer + a series of Q&A seminars around the UK with a free lunch .
I still didn't bite though !

No such thing as a free lunch?

xylophone

Cheers, it is Standard Life that they moved us all into as our work based pension when they closed this DB scheme to us, 

Are you saying that you are a "deferred" member of the DB Scheme and are currently a member of  the DC plan ?

RoadToRiches

xylophone said:

Cheers, it is Standard Life that they moved us all into as our work based pension when they closed this DB scheme to us, 

Are you saying that you are a "deferred" member of the DB Scheme and are currently a member of  the DC plan ?

Yes that’s right they stopped us contributing to the DB scheme so they had to provide an alternative which is DC

RoadToRiches

xylophone said:

My ex employer offered to pay  for a completely free advice service for DB transfer + a series of Q&A seminars around the UK with a free lunch .
I still didn't bite though !

No such thing as a free lunch?

Fair play but one set of advice is not applicable to everyone, yes generally you should not transfer a DB but that advice is not appropriate for everyone.

RoadToRiches

I now have a plan for this, thank you all.

Tony4625

RoadToRiches said:

I now have a plan for this, thank you all.

Wish you luck in whatever you decide to do.

TVAS

The DB scheme closed because it is no longer affordable by the employer. A sensible decision to be able to honour the liabilities of the existing members such as you.
Concerns about the scheme. National Grid make profits every year so said concerns are unfounded by the facts. 
I can see the rational single no dependants however are you in ill health where your life expectancy is shortened? Like wot Gun jack said you will need an income for life and people always believe they will drop down dead at 65 but in reality will live beyond 85.
Unlikely you will get the transfer done in time so you can complain to the scheme trustees if the CETV falls, it also might increase. Also why now? You have not mentioned your current age.