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In specie pension transfer Royal London to ii
RTD2020
Posts: 16 Forumite
I am looking at transferring one of my pensions from Royal London to ii.
An in specie transfer would likely take much longer than a cash transfer, but involve less risk than being out of the market, so seems the safer option. Are there any funds that I can put my RL pension into that will transfer in specie to ii? I would be looking at a global index type fund.
Alternatively, for anybody who has transferred from RL to ii via cash, how long were you out of the market?
An in specie transfer would likely take much longer than a cash transfer, but involve less risk than being out of the market, so seems the safer option. Are there any funds that I can put my RL pension into that will transfer in specie to ii? I would be looking at a global index type fund.
Alternatively, for anybody who has transferred from RL to ii via cash, how long were you out of the market?
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Comments
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Are there any funds that I can put my RL pension into that will transfer in specie to ii?No.
RL uses insured funds. ii don't offer insured funds. (hence the difference in FSCS protection where RL is 100% of the value with no upper limit and ii is just £85k).Alternatively, for anybody who has transferred from RL to ii via cash, how long were you out of the market?RL are not your problem on the ex Scottish Life side (operating out of Wilmslow). They use origo and are fast. only 2-3 days with them. On the ex CIS side they are slower but add about 3-5 days with them.
You generally find that with DIY platforms, they are cause of delays. I haven't seen any threads moaning about ii transfers although I haven't been looking for them either.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Thank you @dunstonh , your replies are always most informative. I thought the answer would be no, for some reason I didn't fully understand, and I was correct!dunstonh said:Are there any funds that I can put my RL pension into that will transfer in specie to ii?No.
RL uses insured funds. ii don't offer insured funds. (hence the difference in FSCS protection where RL is 100% of the value with no upper limit and ii is just £85k).Alternatively, for anybody who has transferred from RL to ii via cash, how long were you out of the market?RL are not your problem on the ex Scottish Life side (operating out of Wilmslow). They use origo and are fast. only 2-3 days with them. On the ex CIS side they are slower but add about 3-5 days with them.
You generally find that with DIY platforms, they are cause of delays. I haven't seen any threads moaning about ii transfers although I haven't been looking for them either.0
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