P45 and Pensions

Bertietheviszla

I am going around in circles with a pension provider. I am trying to withdraw my pot from company A and am in receipt of a small pension from company B a few years ago. I have sent a TTFA certificate from B to A to cover the lump sum already received but my new pension provider (A) are demanding a P45 from the existing pension provider (B) who are refusing. My understanding is that I would only need a P45 if I had stopped receiving my pension.

Dazed_and_C0nfused

B won't supply a P45 until the pension ceases, which is often when either a DC pot is emptied or the pension recipient dies.

Bertietheviszla

Thanks for the comment, this has been going on since February and everytime I get a different person at A it starts the conversation again.

Marcon

https://forums.moneysavingexpert.com/discussion/comment/81954430#Comment_81954430

Make a formal complaint - there's only so much going round in circles someone can be expected to tolerate.

dunstonh

 but my new pension provider (A) are demanding a P45 from the existing pension provider (B) who are refusing. 

Are they demanding it or are they asking for it?

Being asked for a P45 is normal as there are circumstances where a P45 will be available, and it can aid the tax changeover. Demanding one is unusual because not everyone will have one.

A P45 is only issued when the final payroll payment is made. So, in this scenario, no P45 would be expected as payroll is ongoing.