Scottish Widows - Mercer master Trust Works Pension Question

DRS1

Personally I can't see why they'd do it for transfers out no matter how small or large the amount.  But there will probably be sufficient time taken over the transfer that you will never know whether the payment was pre-funded or not.

horace972897

dunstonh said:

sorry, missed it pre-bump.     I see that it has mostly been answerwed.

Fund size does not impact on pre-funding.  If a provider offers it, then everyone gets it irrespective of their pension value.  With pension funds, it’s automatic.   Pension funds that start with the name SW and have a series number in them will be "pension" funds and will have prefunding.  

Not a problem @dunstonh thanks for the info. I’ll have a look. Does the prefunding apply to the source fund and the destination at SW/iweb is irrelevant?

horace972897

Actually looks like my post crossed paths with @gm0 replying so thanks all for your assistance

dunstonh

DRS1 said:

Personally I can't see why they'd do it for transfers out no matter how small or large the amount.  But there will probably be sufficient time taken over the transfer that you will never know whether the payment was pre-funded or not.

They do it for transfers as there is no settlement period.    They do the work, allocate the correct unit price and off it goes.  its why you see many insured plans transferring within 48 hours of them receiving the request.   They dont need to wait for settlement periods. 

Does the prefunding apply to the source fund and the destination at SW/iweb is irrelevant?

Most of the DIY platforms have little or no pre-funding.   It's damned expensive as it takes many millions of pounds of provider money to fund the gap, and DIY providers just cannot afford it within their business model.