HL to ii Final Transfer Summary

Peter314

My wife has transferred her SIPP from HL to ii. The funds and cash have all landed in her ii account and she received a P45 from HL on 19 March.

However ii say that she can't yet make withdrawals because they are awaiting a Final Transfer Summary from HL. She has asked HL to expedite this and received a holding response.

Has anyone else experienced this. If so, how long did it take to get the FTS?

dunstonh

Has anyone else experienced this. If so, how long did it take to get the FTS?

Typically, it arrives before the funds, or on the same day (if faster payment/CHAPS is used).

Peter314

Thnaks! It's over two weeks since the funds transferred so we'd better chase ii in case the problem is at their end

squirrelpie

I just transferred my SIPP from HL to II. All the investments and cash transferred successfully, and a little later I got a note saying the transfer was complete, but when I checked to withdraw it said I couldn't so I asked them why, and a little later again when I checked I can withdraw if I wish. So evidently there can be different outcomes to dunstonh's typical situation. I don't know what the reason for the delay was, despite enquiring both of II and HL. There was some mention from II of talking to their trustees.

Peter314

That's very helpful, thanks. We've done as you did and will report back.

DavidT67

We did a sipp transfer from HL with in-specie holdings and cash. the in-specie holdings disappeared into the ether for over a week before appearing at the destination, cash took another week, and the final statement three weeks after that.
The providers said allow up to sixty four days for transfer to complete, so that's possibly the worse case scenerio.

Peter314

Update:

This matter is still rumbling on..

Our latest message to ii:

Thank you for your message. I don't know what fund split can be required. The are only two funds and cash. The SIPP is 100% crystallised and I should be able to draw down from it. It is as simple as that.

I attach a recent message from Hargreaves Lansdown, which sets out that all transfer details were sent over to interactive investor on 19 March and that they have not received any request from ii for anything further.

Would you please have your transfer team sort this out as a matter of urgency.

Latest from ii (15/4/26):

Thank you for contacting us about your recent experience of our service. We are sorry that you have had cause to be dissatisfied with our service and that we have been unable to resolve your complaint already. We appreciate your patience as we investigate your concerns.

We have not yet completed our review of your complaint, but please let us know if there is anything else that you’ve not already told us that you think we should be aware of.

After conducting a thorough investigation, your assigned investigator will be in touch to discuss our findings or to request any further information we may need to resolve your complaint. The Financial Conduct Authority (FCA) allows us up to 8 weeks to investigate your complaint before issuing our response, but we aim to resolve your complaint as soon as possible. In the meantime, please refer to our Customer Services Charter ( https://www.ii.co.uk/legal-terms/complaints/ ) for details on how we handle complaints.

If you wish to discuss your concerns, please call our Customer Services Team on 0345 607 6001. We are here to help you between 7.45am and 5.30pm, Monday to Friday.

So, we await the result of their investigation and in the meantime cannot make withdrawals because:

We cannot currently calculate the values of your non-drawdown and drawdown pots. This may be due to a transfer that is still in progress. If you're not aware of any ongoing transfers, please send us a Secure Message so we can investigate further.

squirrelpie

We cannot currently calculate the values of your non-drawdown and drawdown pots. This may be due to a transfer that is still in progress. If you're not aware of any ongoing transfers, please send us a Secure Message so we can investigate further.

I had that for a while. It's worth checking the status regularly since it showed the separate pots and removed the limitations before they sent me a message telling me they had finished the transfer.

I take it your 'latest message' was sent in response to their latest message?

Peter314

https://forums.moneysavingexpert.com/discussion/comment/81966997#Comment_81966997

No, their latest was in response to our latest. I don't think we can explain things to them any more clearly. It just seems their system is awaiting an input that will never come without manual intervention.

squirrelpie

No, their latest was in response to our latest. I don't think we can explain things to them any more clearly. It just seems their system is awaiting an input that will never come without manual intervention.

Ah, it sounds like they've side-tracked you into their complaints process then, which may slow things down. It may be worth phoning them, but I hate phones so I didn't try.

SouthCoastBoy

I've recently transferred some of my sipp from hl to ii. The transfer of assets and cash were completed within a week or two, but I'm still waiting for my final transfer summary from hl. Apparently ii need that before I can take any benefits or income payments from the sipp. Not sure if i can trade in the sipp if no payment is being taken? I've given hl a nudge hopefully it will be sorted soon. I've no idea why a final transfer summary is important, especially as the assets are in the ii account?