Which pension company provides the easiest & quickest ufpls withdrawls?

sgx2000

I.e.
How good are their Apps
How quick do withdrawls hit your bank
How easy is it to sort out any problems

This question is probably  ost aimed those who are currently flexi withdrawing and have experienced this practically

tacpot12

I only have experience of AJ Bell, but their app is good.

I have a regular monthly UFPLS withdrawal setup. Cash is taken out of the SIPP around the 9th of the Month and arrives as a payment into my bank account around the 18th of the month (so 9 days in limbo which I have always felt was a little excessive). The app says one off withdrawals take 1-3 days, and this has been my experience when requesting cash withdrawals from my Stocks and Shares ISA that I also have with AJ Bell.  

I've found the customer service to be very good; I've had very few problems, but any I have had have been sorted promptly after sending a secure message using the app.  

dunstonh

Which pension company provides the easiest & quickest ufpls withdrawls?

Quickest are probably on the IFA side which won't help you.   Money in your bank in about 20 minutes after keying for TFC with daily payrolls available for the taxable element.

How good are their Apps

Most of the decent ones don't have apps. They are browser based.    

sgx2000

I was specifically trying to find out about how straightforward accessing my funds (probably UFPLS) will be with...

Aviva (my current pension company)
L&G   (they have always quoted the highest if I took an annuity)
Vanguard  (because of the fees)

dunstonh

Aviva (my current pension company)

Which version product?   Service varies depending on product and legacy company

L&G   (they have always quoted the highest if I took an annuity)

projections are just a range of assumptions and not based on fact.    If they use higher assumptions than the others are using then it would be higher on a synthetic calculation.    It doesn't mean theirs is better.

Vanguard  (because of the fees)

Lots of forum posts of late suggesting they have service issues currently.

bownyboy

Well I can tell you it is definately NOT Hargreaves Lansdown! Its paper based and all manual and took a month from requesting the forms to the money being in my wifes account.

Scarum

tacpot12 said:

I only have experience of AJ Bell, but their app is good.

I have a regular monthly UFPLS withdrawal setup. Cash is taken out of the SIPP around the 9th of the Month and arrives as a payment into my bank account around the 18th of the month (so 9 days in limbo which I have always felt was a little excessive). The app says one off withdrawals take 1-3 days, and this has been my experience when requesting cash withdrawals from my Stocks and Shares ISA that I also have with AJ Bell.  

May I ask do you initiate each UFPLS withdrawal manually every month or does it remain automatic until cancelled?  Is there a charge?  Thank you.

Hoenir

tacpot12 said:

so 9 days in limbo which I have always felt was a little excessive

Knock off 2 days for a weekend. 2 days for BACS processing transmission time. That's a 5 day turnaround including the day it' s requested. Payroll's may also only be run once a week. 

zagfles

bownyboy said:

Well I can tell you it is definately NOT Hargreaves Lansdown! Its paper based and all manual and took a month from requesting the forms to the money being in my wifes account.

They're quick for phased drawdown though - which you can use to achieve the same thing as a UFPLS. Took only a few days and all online after the first crystallisation. The taxable part can only be paid on their "payday" which is the 28th of the month. 

Some providers offer regular monthly UFPLS but insist you first transfer to a separate "spending" account before you can take anything including a UFPLS, this seems to me to be far more messy. 

Pat38493

tacpot12 said:

I only have experience of AJ Bell, but their app is good.

I have a regular monthly UFPLS withdrawal setup. Cash is taken out of the SIPP around the 9th of the Month and arrives as a payment into my bank account around the 18th of the month (so 9 days in limbo which I have always felt was a little excessive). The app says one off withdrawals take 1-3 days, and this has been my experience when requesting cash withdrawals from my Stocks and Shares ISA that I also have with AJ Bell.  

I've found the customer service to be very good; I've had very few problems, but any I have had have been sorted promptly after sending a secure message using the app.  

So AJ Bell allows you to set up a monthly automated UFPLS?  I thought that is was just IFA only providers that offered this option, although I was guessing that sooner or later DIY providers would start to offer it as well.

westv

Hoenir said:

tacpot12 said:

so 9 days in limbo which I have always felt was a little excessive

Knock off 2 days for a weekend. 2 days for BACS processing transmission time. That's a 5 day turnaround including the day it' s requested. Payroll's may also only be run once a week. 

Why is that? This week I transferred £10k from my current account to Virgin Money and it was there almost instantly.