Phoenix Pension 25% TFLS & access to flexible drawdown, without triggering MPAA

MallyGirl

I had a rejection which showed up that a former employer had set up the pension with a name like Terri when the full name was something like Theresa (illustrative name, not mine). I had never noticed as everything from the email up was using Terri. It just took some paperwork to get it changed to Theresa and then the transfer was fine.

1manband

dunstonh said:

When I speak with Phoenix and H/L about transferring should I request they use Origo for speed or does it not work like that?

Phoenix (NPI) use Origo on most of their plans.   It tends not to be used on complicated plans, such as section 32 buy out bonds.    HL use Origo.   So, as long as both sides use Origo, it will default to that without you needing to do anything.       

You need to tell Phoenix that you are considering transferring the pension and ask them to supply you with discharge forms if they do not support Origo transfers with that plan.    That way you will know if Phoenix will use Origo or not and if not, you have the discharge forms to give HL right at the start.

Hi both have confirmed they use Origo so no Discharge Forms needed from Phoenix just the Origo transfer request from HL which can take 14-21 days.
It can take longer if there any issues/even slight discrepencies - the details have to match exactly etc.
Apparently one of the most common hiccups is the other provider entering the wrong selection in the Origo dropdown for 'Previous Provider' - in my case he confirmed it should be: Ex NPI/Pearl

dunstonh

Hi both have confirmed they use Origo so no Discharge Forms needed from Phoenix just the Origo transfer request from HL which can take 14-21 days.

Or 3 days if HL are efficient.

Apparently one of the most common hiccups is the other provider entering the wrong selection in the Origo dropdown for 'Previous Provider' - in my case he confirmed it should be: Ex NPI/Pearl

That is not a hard and fast rule but it is a good one.     It usually depends on when the software department at the receiving scheme last refreshed their Origo list and how knowledgeable the staff are with the various quirks and how integrated the software is at ceding scheme.

I would recommend that when you tell HL, you input "Phoenix (ex NPI)" as the provider.    If its a pull down list that HL use and no freetext, then select NPI if it is available.  If not selecting Phoenix should be fine.   The Origo default for Phoenix is the Peterborough branch.    It would be plans from other locations that would have issues.

Whatever you type in/fill in, that is not you creating the origo entry.  That is you informing the staff member at the receiving scheme who the provider is and using the legacy name in addition to the current name helps them pick the right company and entry on the Origo list.     

1manband

Hi everyone, thanks again for all your help.
Quick update:
HL submitted the Origo request to Phoenix yesterday, official line from Phoenix is up to 21 days for responses to any communication/request but reality is I should hear from their transfer team within a few days, possibly by Friday. First sign of the transfer starting at their end (other than the team calling me) is apparently when the funds disappear from my online account summary or I lose access - rather disconcerting but it is what it is.
I'll keep you updated.