Old Serps with phoenix life

Mary_Alice

I have recently changed job so have been auto enrolled ( again) to another work based pension. I have 3 smallish pots of these type of pensions totalling around £26,000  I want to merge them into my new work based pension with standard life to make it easier- I am 58 now.
I also have an old SERPS from Abby Life which is now with Phoenix life. I have the policy number and value - £ 30,00 but  when I try to input the policy to transfer it - it is not found. I tried to register on Phoenix Life website but it doesn't recognise the policy either ? 
I tried phoning , but I don't think i explained myself very well as she didn't understand what I wanted to do and said I  need a financial adviser to manage it ??
I thought the incoming provider managed the transfer but PL won't give me a policy number that is recognised  I am soo confused .

dunstonh

I tried phoning , but I don't think i explained myself very well as she didn't understand what I wanted to do and said I  need a financial adviser to manage it ??

Phoenix cannot give advice or opinion and if you are stuck with an issue that is beyond basic factual details then they will you to use an IFA.        Asking them to verify your policy number isn't something that needs an IFA.   So, it is likely that you confused them.         Your question to them doesn't need an explanation that confuses issues.  It just needs you to ask them to verify what your policy number is.

I thought the incoming provider managed the transfer but PL won't give me a policy number that is recognised  I am soo confused 

I have transferred a number of ex Abbey Life plans and never had an issue using the policy number that is on the statements  (IFAs write to the provider to get a load more details but the letter of authority would quote the policy number that is nearly always taken from a previous statement).     

Remember that Phoenix operate out of multiple offices.   If the receiving scheme is sending the request to the wrong Phoenix office, then it would get rejected.      

Abbey Life is operated out of the Bournemouth office.  Not the Peterborough office where most of theirs are (there is also an address in Scotland for some other legacy companies).   If the receiving scheme is sending the request to Peterborough, they wont be able to see ex Abbey Life plans and won't recognise the policy number.

Mary_Alice

Thank you, I think you are right that I confused them. She said it was due to the value being more than the allowed for a basic transfer. For the Aegon one I just entered the policy number on the standard life website to transfer it. but that was just for £8,00 I will try again tomorrow. 
I also want to increase my payments to standard Life so I will ask my new employer to do this as well. 
My friend said I could take 25% tax free then pay this into the new pension instead of moving it, but that is too many steps for me , I just need it to be nice and simple. Thanks again 

Brie

Check with your current occupational pension if there's a certain time period when transfers in are allowed.  Some it's as short as 3 months from the start of employment.  Also check what the scheme charges are in case you would be better off putting the money else where, maybe merging the 3 and leaving that separate from your current work scheme. 

Mary_Alice

I will check if there is a deadline thanks, Can I just open a pension account without contributions apart from the transfers. I think I may take advantage of the free advice leaflet for pension service .