We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!

In specie pension transfer Royal London to ii

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?

Comments

  • dunstonh
    dunstonh Posts: 120,609 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
     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.
  • RTD2020
    RTD2020 Posts: 16 Forumite
    Second Anniversary 10 Posts Name Dropper
    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.  

    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!
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.9K Banking & Borrowing
  • 253.9K Reduce Debt & Boost Income
  • 454.7K Spending & Discounts
  • 246K Work, Benefits & Business
  • 602.1K Mortgages, Homes & Bills
  • 177.8K Life & Family
  • 259.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.