Equitable Life with profits pension / takeover.

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  • Maffo65
    Maffo65 Posts: 30 Forumite
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    Scot_39 wrote: »
    my total secure cash fund was approx 9.5 % higher than personal illustration figure.
    Just called the Aylesbury line: same here. :T
  • hardshouder
    hardshouder Posts: 9 Forumite
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    Can folk please confirm receipt of the next letter sent by EL ?
    Thanks
  • keiran
    keiran Posts: 739 Forumite
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    Still no info/news/contact at all from the NHS Trustee for the EqL AVCs....

    But I have obtained the value/uplift value via the Aylesbury line and know exactly what I want to do, which is to transfer to my Aviva pension where I now have charges of 0.25%. There is an online form on the Aviva website to request transfers, and Utmost is listed as a provider from whom Aviva can do transfers.

    Should I just go ahead, or should I wait for any input from the NHS Trustee, just in case they have any wisdom (if they make contact at all)?
    Thanks
  • pensionpawn
    pensionpawn Posts: 946 Forumite
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    Does anyone know the interest rate for Utmost's 'secure cash' holding account for our transferred pensions?
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    pensionpawn wrote: »
    Does anyone know the interest rate for Utmost's 'secure cash' holding account for our transferred pensions?

    I don’t know, but it’s probably Utmost Money Sterling fund. Earned 0.41% in the last 12 month. You’d be losing money to inflation but slowly
  • Joey_Soap
    Joey_Soap Posts: 410 Forumite
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    Joey_Soap wrote: »
    It may be that behind the scenes, wheels are gradually grinding into motion. This morning I had an email from Mercers telling me that the group scheme trustees were sending out a letter later this week. So, those of us with EL/Utmost AVCs in the scheme should have at least "some" information within a few days. About time too. The total silence has been appalling. I am happy that I only have a tiny pot of money with these people.
    Well, the promised letter from Mercers arrived in yesterday's mail. In a nutshell, it simply says my pot of money has been transferred to Utmost and resides in the cash fund. That's it. Apparently, another letter will arrive in an unspecified timescale advising me of my "options". Watch this space, I suppose.


    Soap.
  • jsinc
    jsinc Posts: 306 Forumite
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    Parent's with-profits values are more than the illustration (+6-8% but not sure exactly how much or precise uplift vs 2017). Utmost said a transfer out requires completed Transfer Payment Forms available on their site and a letter from the new pension provider confirming they'll accept the incoming transfers. That seems a little old school, as usually initiated by new provider, but for values greater £30k sometimes can't be done online anyway. This is for individual policyholders, don't know about group pensions.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    jsinc wrote: »
    Parent's with-profits values are more than the illustration (+6-8% but not sure exactly how much or precise uplift vs 2017). Utmost said a transfer out requires completed Transfer Payment Forms available on their site and a letter from the new pension provider confirming they'll accept the incoming transfers. That seems a little old school, as usually initiated by new provider, but for values greater £30k sometimes can't be done online anyway. This is for individual policyholders, don't know about group pensions.

    Find it hard to believe they would be able to reject a transfer if it were to be initiated from the other end (the new pension provider).
  • jsinc
    jsinc Posts: 306 Forumite
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    Deleted_User wrote: »
    Find it hard to believe they would be able to reject a transfer if it were to be initiated from the other end (the new pension provider).
    Agree. They're transferring >30k to an Aviva stakeholder and can't do that online, regardless of any safeguarded benefits etc. Initial feedback from Aviva was providing a supporting letter isn't the norm nowadays, but likely still doable. Will be calling specific dept back to confirm their perspective. May be worth others checking the same re. their new provider.
  • rstand21a
    rstand21a Posts: 3 Newbie
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    keiran wrote: »
    Still no info/news/contact at all from the NHS Trustee for the EqL AVCs....

    But I have obtained the value/uplift value via the Aylesbury line and know exactly what I want to do, which is to transfer to my Aviva pension where I now have charges of 0.25%. There is an online form on the Aviva website to request transfers, and Utmost is listed as a provider from whom Aviva can do transfers.

    Should I just go ahead, or should I wait for any input from the NHS Trustee, just in case they have any wisdom (if they make contact at all)?
    Thanks


    Hi Karen - do you have the contact details for the NHS Trustee please? I have looked at the NHS Pensions website but couldn't find any references to the EL AVC policies.

    Thanks very much.

    Robert
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