Transfer from Aviva to II

dunstonh

Pat38493 said:

Pipthecat said:

I transferred a previous work pension from Aviva to Vanguard.  I went on the Vanguard site, initiated the transfer, selected my funds and about six weeks later the transfer happened.  No contact with Aviva during the transfer.  Only thing I did not expect was to lose access to my online Aviva account in about week four.  I had to call them for a list of my previous years contributions.  Good job on both sides

So you didn't even have to tell Aviva to sell the funds to cash?  Was it an in specie transfer or a cash transfer?

Aviva's insured pensions don't have a cash option.

Was it an in specie transfer or a cash transfer?<br>

Aviva only have one pension that allows in-specie transfers and that is their platform pension (operating out of Glasgow).  The rest use insured funds and you cannot do inspecie with insured funds.

I transferred a previous work pension from Aviva to Vanguard.  I went on the Vanguard site, initiated the transfer, selected my funds and about six weeks later the transfer happened.  Aviva are one of the quickest providers with transfers.   Key in the request to transfer on a Monday and Aviva have normally transferred it by Wednesday or Thursday.    Loss of online access happens the day they close the pension and send the money.     This would indicate that it took Vanguard nearly 4 weeks to action your transfer and 2 weeks to handle the receipt.

Pipthecat

Pat38493 said:

Pipthecat said:

I transferred a previous work pension from Aviva to Vanguard.  I went on the Vanguard site, initiated the transfer, selected my funds and about six weeks later the transfer happened.  No contact with Aviva during the transfer.  Only thing I did not expect was to lose access to my online Aviva account in about week four.  I had to call them for a list of my previous years contributions.  Good job on both sides

So you didn't even have to tell Aviva to sell the funds to cash?  Was it an in specie transfer or a cash transfer?

Zero instruction from me to Avia.  Looking at the correspondence I'd imagine it was cashed and remained in cash for around a week (few days either side) before the destination funds were purchased.  Had the same experience with a small Nest pension also.

Pat38493

dunstonh said:

Aviva's insured pensions don't have a cash option.

 Key in the request to transfer on a Monday and Aviva have normally transferred it by Wednesday or Thursday.    Loss of online access happens the day they close the pension and send the money.     This would indicate that it took Vanguard nearly 4 weeks to action your transfer and 2 weeks to handle the receipt.

Thanks Dunstonh

So actually there is nothing to do for me - II just have to sort it out with Aviva?

Also when you say the transfer should be triggered on a Monday, why would that make a difference?  I would have thought that it would take on average the same number of working days so it wouldn't matter which day?  Also I don't really control that because it's II who presumably will make the transfer request to Aviva whenever they process my transfer request?

Pipthecat

Aviva are one of the quickest providers with transfers.   Key in the request to transfer on a Monday and Aviva have normally transferred it by Wednesday or Thursday.    Loss of online access happens the day they close the pension and send the money.     This would indicate that it took Vanguard nearly 4 weeks to action your transfer and 2 weeks to handle the receipt.

It must have felt longer than it actually took.  I just checked my Vanguard paperwork and I initiated the request on the 8th and it took to the 20th to complete.  Probably the paranoia caused by moving large amounts of money around.

Nest took longer 21 April to 23 May

dunstonh

Also when you say the transfer should be triggered on a Monday, why would that make a difference?

That isn't what I meant.  I was using days as an indicator of how long.    i.e. if the receiving scheme keyed it into Origo on a Monday, Aviva would usually have the transfer completed and the funds with the receiving scheme by Wednesday or Thursday.

Pat38493

dunstonh said:

Also when you say the transfer should be triggered on a Monday, why would that make a difference?

That isn't what I meant.  I was using days as an indicator of how long.    i.e. if the receiving scheme keyed it into Origo on a Monday, Aviva would usually have the transfer completed and the funds with the receiving scheme by Wednesday or Thursday.

I am just trying to log a transfer request.  It is asking for the name of my Aviva pension provider but there are lots available.  The last document I have from Aviva says it's Salisbury.  However the interactive investor option Aviva Salisbury has a different PO box and post code to the one on my last pension statement.

I guess I need to check with Aviva then?

Edit:  Actually sorry it's user error - there are 2x Aviva Salisbury on the list and one of them is correct.

Pat38493

Pipthecat said:

Pat38493 said:

Pipthecat said:

I transferred a previous work pension from Aviva to Vanguard.  I went on the Vanguard site, initiated the transfer, selected my funds and about six weeks later the transfer happened.  No contact with Aviva during the transfer.  Only thing I did not expect was to lose access to my online Aviva account in about week four.  I had to call them for a list of my previous years contributions.  Good job on both sides

So you didn't even have to tell Aviva to sell the funds to cash?  Was it an in specie transfer or a cash transfer?

Zero instruction from me to Avia.  Looking at the correspondence I'd imagine it was cashed and remained in cash for around a week (few days either side) before the destination funds were purchased.  Had the same experience with a small Nest pension also.

Interesting because I have just raised a transfer request and it is telling me I have to get a "discharge form" from Aviva - whatever that is.

dunstonh

 The last document I have from Aviva says it's Salisbury.  However the interactive investor option Aviva Salisbury has a different PO box and post code to the one on my last pension statement.

That would make it an ex-Friends Provident pension.

I guess I need to check with Aviva then?

No.  What you are seeing is an issue with the receiving scheme.     Aviva should appear twice under Origio.   Aviva platform and Aviva (for the life and pensions side for all legacy companies).   If the receiving scheme hasn't updated their list to reflect that but still show the old legacy companies, then this is at their end and not at Aviva's end.  That is not uncommon,   Originally, there would have been entries for AXA Sun life and Friends Provident but when Aviva bought Friends Life, the provider has just renamed their entries to Aviva.  So, it doesn't matter which you select as long as it not Glasgow.

Aviva Salisbury is the old Friends Provident plans.   Picking either would be fine.

Pipthecat

Interesting because I have just raised a transfer request and it is telling me I have to get a "discharge form" from Aviva - whatever that is.

Possibly down to the pension type.  My Avia pension was titled Avia New Generation Personal Pension Plan. I was automatically transferred into this from my old DC work pension after I finished at the company

Pat38493

Pipthecat said:

Interesting because I have just raised a transfer request and it is telling me I have to get a "discharge form" from Aviva - whatever that is.

Possibly down to the pension type.  My Avia pension was titled Avia New Generation Personal Pension Plan. I was automatically transferred into this from my old DC work pension after I finished at the company

Mine seems to just have the abbreviated name of my company as the pension name.  It doesn't really state a "pension type" other than that.  It's a pension that my company used some years ago but they then changed to Aegon in 2017, but I did not transfer out at that time.

Also - the contact information on my statement which I didn't realise before says mercer.platform@aviva.com so it could be that mercer is somehow involved there (which might mean I answered on of the transfer questions wrong).

I am trying to call them now on the number from the statement - already been transferred from one department to another twice and then got cut off!