Is my pension in drawdown?

mikrt

Looking for some advice please, in process of pension transfer from SL to ii.

I have been told there will be delays because my ceding pension is in drawdown. I was not aware of this, but suspect I may have been ignorant on the subject.

I have taken a lump sum, only a part of my 25% tax free allowance, about 5 years ago.

Is this why it is termed in drawdown?

I thought drawdown referred to when you were drawing it regularly, but understand I may have got it wrong, I'm just looking for confirmation before I reply to message.

Thank you.

Marcon

Drawdown simply means you've started to access your DC pot - so yes, it's in drawdown.

mikrt

Marcon said:

Drawdown simply means you've started to access your DC pot - so yes, it's in drawdown.

Thank you. 

SVaz

Also,  if you are transferring your investments, rather than all cash, that slows the process down.  

dunstonh

I have been told there will be delays because my ceding pension is in drawdown. 

There is no delay with it being uncrystallised or crystallised.   The only delay that could be in play here is that you told ii the pension was uncrystallised when it was actually crystallised, which led to a rejection on Origo.  A new request to Origo needs to be made using the correct information, which would add several days as the ceding scheme would not have acted on the original request.

mikrt

Thank you all.

I have downloaded a form and will complete this afternoon.

I wasn't asked about whether or not pension was crystalised. This is my 2nd transfer into ii in a few months, I was asked about the first one (it wasn't), so there may have been an assumption.

Also, Last week I disinvested, and now hold cash only, My previous share has dropped ~2.4% since, so that worked out well. That also means a delay may not be the end of the world.