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Pension switching incentives
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IvanOpinion said:Are these incentives only worthwhile if doing an in specie transfer?
I have received a couple of incentives over the last few years, with in specie transfers. My pension is now at a level where the amount it can go up, or down, in a single day, exceeds any transfer incentive. So if it had to be moved to cash I could very easily lose out.1 -
granta said:IvanOpinion said:Are these incentives only worthwhile if doing an in specie transfer?
I have received a couple of incentives over the last few years, with in specie transfers. My pension is now at a level where the amount it can go up, or down, in a single day, exceeds any transfer incentive. So if it had to be moved to cash I could very easily lose out.0 -
artyboy said:granta said:IvanOpinion said:Are these incentives only worthwhile if doing an in specie transfer?
I have received a couple of incentives over the last few years, with in specie transfers. My pension is now at a level where the amount it can go up, or down, in a single day, exceeds any transfer incentive. So if it had to be moved to cash I could very easily lose out.I think....0 -
michaels said:artyboy said:granta said:IvanOpinion said:Are these incentives only worthwhile if doing an in specie transfer?
I have received a couple of incentives over the last few years, with in specie transfers. My pension is now at a level where the amount it can go up, or down, in a single day, exceeds any transfer incentive. So if it had to be moved to cash I could very easily lose out.0 -
artyboy said:michaels said:artyboy said:granta said:IvanOpinion said:Are these incentives only worthwhile if doing an in specie transfer?
I have received a couple of incentives over the last few years, with in specie transfers. My pension is now at a level where the amount it can go up, or down, in a single day, exceeds any transfer incentive. So if it had to be moved to cash I could very easily lose out.1 -
granta said:artyboy said:michaels said:artyboy said:granta said:IvanOpinion said:Are these incentives only worthwhile if doing an in specie transfer?
I have received a couple of incentives over the last few years, with in specie transfers. My pension is now at a level where the amount it can go up, or down, in a single day, exceeds any transfer incentive. So if it had to be moved to cash I could very easily lose out.0 -
artyboy said:granta said:artyboy said:michaels said:artyboy said:granta said:IvanOpinion said:Are these incentives only worthwhile if doing an in specie transfer?
I have received a couple of incentives over the last few years, with in specie transfers. My pension is now at a level where the amount it can go up, or down, in a single day, exceeds any transfer incentive. So if it had to be moved to cash I could very easily lose out.
So was wondering if you'd calculated which bands were more worth it for MoneyFarm given their relatively higher fees?
Now that I have most of my holdings in ETFs, it's less attractive to transfer to them and be out of the market0 -
granta said:artyboy said:granta said:artyboy said:michaels said:artyboy said:granta said:IvanOpinion said:Are these incentives only worthwhile if doing an in specie transfer?
I have received a couple of incentives over the last few years, with in specie transfers. My pension is now at a level where the amount it can go up, or down, in a single day, exceeds any transfer incentive. So if it had to be moved to cash I could very easily lose out.
So was wondering if you'd calculated which bands were more worth it for MoneyFarm given their relatively higher fees?
Now that I have most of my holdings in ETFs, it's less attractive to transfer to them and be out of the market
But I'm way past the point where I can be bothered with setting up anything that small. Obviously may appeal to others though...1 -
artyboy said:granta said:artyboy said:granta said:artyboy said:michaels said:artyboy said:granta said:IvanOpinion said:Are these incentives only worthwhile if doing an in specie transfer?
I have received a couple of incentives over the last few years, with in specie transfers. My pension is now at a level where the amount it can go up, or down, in a single day, exceeds any transfer incentive. So if it had to be moved to cash I could very easily lose out.
So was wondering if you'd calculated which bands were more worth it for MoneyFarm given their relatively higher fees?
Now that I have most of my holdings in ETFs, it's less attractive to transfer to them and be out of the market
But I'm way past the point where I can be bothered with setting up anything that small. Obviously may appeal to others though...
Moneyfarm was great in the first year when they offered a fee free deal up to £10k but not so cost-effective now0 -
I have c£57k to transfer, how does an in specie transfer work? Is that where it stays invested in the funds you are in and moves? I'd ruled out doing any incentives due to to the potential loss of money over the transfer duration. However I may have completely misinterpreted what the in specie transfer is!0
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