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Getting the money!

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Comments

  • mrklaw
    mrklaw Posts: 443
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Forumite

    are you at pension access age?

    do you have any other DC/SIPP pension?

    if you’re looking to transfer into a DC but already have a DC, can’t you just draw from that and then you can do the DB transfer without being so pushed for time (it won’t necessarily be quick)

  • CarrieMJ
    CarrieMJ Posts: 14
    10 Posts First Anniversary Name Dropper
    Forumite
    edited 10 May at 12:42PM

    I've no idea if there's a defined contribution AVC (Googled it and still none the wiser!), but looking at the original letter 1st March it does feature a paragraph which states the following, which does indicate to me that it may change right up to the last minute:

    This transfer value isn’t guaranteed. If you decide to transfer,

    we’ll work out your transfer value again at the time we transfer

    the money. It could be higher or lower. It could change

    quickly and significantly, for example if interest rates or market

    conditions are changing rapidly. If it changes by more than 1%

    or £1,000, or goes up significantly, we’ll get in touch to ask you

    to accept the value again – you can do this over the phone.

  • Marcon
    Marcon Posts: 16,475
    Tenth Anniversary 10,000 Posts Name Dropper Combo Breaker
    Forumite

    Ah - that's your answer. Could go up as well as down, so fingers crossed…!

    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
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