Transfer from Aegon to II

Pat38493

Can anyone help me with which options to select when I want to do a partial transfer of my employer Aegon SIPP to Interactive Investor, as I know it causes a delay if I don't select the correct "Aegon" option?

On the II side, the options are:
Aegon
Aegon Retirement Choices
Aegon Scottish Equitable Pensions and Bonds
Aegon target plan.

The product is labelled in ARC as an Aegon SIPP Pension with the name of my company below it and:
"<Mycompany> Group personal pension plan"

The pension reference number is an 8 digit number starting with a 7

I seem to remember  that if I want to talk to the correct Aegon team on the webchat, I need to select "Workplace SIPP" or "Workplace ARC" or something like that because they thad to transfer me last time for just selecting SIPP.

Also on the type of pension being transferred from, should I select "SIPP" or "Occupational Money purchase pension scheme"?  I know that some pensions call themselves a SIPP for marketing reasons even if they are not, and I know that if you select the wrong options it goes to the wrong team and causes delays and questions.

dunstonh

The product is labelled in ARC as an Aegon SIPP Pension with the name of my company below it and:
"<Mycompany> Group personal pension plan"

ARC =  Aegon retirement choices.

Also on the type of pension being transferred from, should I select "SIPP" or "Occupational Money purchase pension scheme"? 

It's a personal pension.  (in reality, selecting SIPP or PPP makes absolutely no difference)

Pat38493

dunstonh said:

The product is labelled in ARC as an Aegon SIPP Pension with the name of my company below it and:
"<Mycompany> Group personal pension plan"

ARC =  Aegon retirement choices.

Also on the type of pension being transferred from, should I select "SIPP" or "Occupational Money purchase pension scheme"? 

It's a personal pension.  (in reality, selecting SIPP or PPP makes absolutely no difference)

Thanks @Dunst@dunstonh

I was hoping you would comment as I have seen you are the pension account guru on similar previous questions 

Pat38493

Does anyone know how long II takes to put the money into your account once they have received it?

I initiated a patrial transfer on Tuesday.  Within 48 hours on Thursday morning I had a letter from Aegon confirming that they have sent the money.  It has also gone away from my Aegon account.  This is excellent service up to that point.

I'm just wondering how long II normally takes to actually post the cash onto my individual account, and whether I will receive interest from the day they receive the money or only when they put it in my name?

Also is there any particular reason why it might take extra days to post the cash onto the customer's account after it's received or is it just process/workload normally?

Notepad_Phil

Pat38493 said:

Does anyone know how long II takes to put the money into your account once they have received it?

I initiated a patrial transfer on Tuesday.  Within 48 hours on Thursday morning I had a letter from Aegon confirming that they have sent the money.  It has also gone away from my Aegon account.  This is excellent service up to that point.

I'm just wondering how long II normally takes to actually post the cash onto my individual account, and whether I will receive interest from the day they receive the money or only when they put it in my name?

Also is there any particular reason why it might take extra days to post the cash onto the customer's account after it's received or is it just process/workload normally?

I did a recent transfer into ii from a non-Aegon platform where I was told on the Monday that the platform had sent the cash and on the Wednesday I got an email from ii to say that the cash had been received and on logging on that evening the money was showing. So they certainly don't hang around holding on to any transferred cash for extended periods of time. Whether your cash arriving will be as quick for an Aegon transfer I can't say, as perhaps Aegon have additional processes between sending out the email and the cash actually being sent.

Pat38493

Notepad_Phil said:

Pat38493 said:

Does anyone know how long II takes to put the money into your account once they have received it?

I initiated a patrial transfer on Tuesday.  Within 48 hours on Thursday morning I had a letter from Aegon confirming that they have sent the money.  It has also gone away from my Aegon account.  This is excellent service up to that point.

I'm just wondering how long II normally takes to actually post the cash onto my individual account, and whether I will receive interest from the day they receive the money or only when they put it in my name?

Also is there any particular reason why it might take extra days to post the cash onto the customer's account after it's received or is it just process/workload normally?

I did a recent transfer into ii from a non-Aegon platform where I was told on the Monday that the platform had sent the cash and on the Wednesday I got an email from ii to say that the cash had been received and on logging on that evening the money was showing. So they certainly don't hang around holding on to any transferred cash for extended periods of time. Whether your cash arriving will be as quick for an Aegon transfer I can't say, as perhaps Aegon have additional processes between sending out the email and the cash actually being sent.

Well the letter from Aegon said they had already sent the funds to II on Thursday morning.

Pat38493

Money has just arrived in my II account so a bit less than a week to do the transfer.