Moving pension from st James place.

MeteredOut

mart40 said:

I have been with st James place 7 years now so was thinking exit fees would not apply now.

When was your last contribution to your investment?

Alexland

mart40 said:

I have been with st James place 7 years now so was thinking exit fees would not apply now.

In addition to new contributions if they have reorganised your portfolio they might have tied you in again.

Ultimately the easiest way to discover their position on your exit fees is to ask them in writing and see what, if anything, they say they are entitled to as they are so unattractive there is no incentive they will offer where it would make sense to stay. They might try and retain you with a lower but still too expansive fee.

mart40

I have never paid any money in but like you say they have moved me into different funds while I have been with them.I will ask my advisor if I have to pay any exit fees.

gm0

It will likely be on your annual statement.  

Visible as a difference between as of date investment value and an "encashment value" (net fee).

For the pension product at least - which I have seen.  Cannot say for others.

joindot

https://forums.moneysavingexpert.com/discussion/comment/81810620#Comment_81810620

I'm also considering moving my pension fund away from SJP. My latest quarterly report gives the same value for the account and the encashment value. I assume this means no cost of moving. Am I wrong?

dunstonh

https://forums.moneysavingexpert.com/discussion/comment/81871355#Comment_81871355

No. Current value and transfer value is how you work out any charges for transferring. If they are the same, you know it will be cost neutral to leave.