ReAssure

neoman62
neoman62 Posts: 39 Forumite
in Pensions, annuities & retirement planning
I have a number of pension policies with ReAssure. I set up two in 1990 and another two were set up in 2002 from a Government review redress.

As I am now over the minimum retirement age I decided to review them. I am a British citizen that lives in Australia, I moved with my job in 2010.

I wanted to merge the four policies in order to simplify matters as a prelude to withdrawing the funds over a period. ReAssure has stated that if I live in the UK they could do this. However, as I live abroad they cannot, clearly a business decision.

Has anyone else encountered this discrimination? Would The Equality Act 2010 cover this? The ReAssure staff I have communicated with give me the impression they have not been trained and simply make up facts without any supporting evidence in the hope I go away.
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Comments

  • xylophone
    xylophone Posts: 44,396 Forumite
    Name Dropper First Anniversary First Post
    Had you considered exploring the possibility of transferring the pensions to a SIPP and entering drawdown?

    https://forums.moneysavingexpert.com/showthread.php?p=74627680#post74627680
  • neoman62
    neoman62 Posts: 39 Forumite
    I am not eligible to do this.
  • xylophone
    xylophone Posts: 44,396 Forumite
    Name Dropper First Anniversary First Post
    I am not eligible to do this.

    Why are you not eligible?
  • neoman62
    neoman62 Posts: 39 Forumite
    Follow the link posted previously. I don't know whether it's The UK Govt imposing these restrictions or the UK pension industry or ReAssure? If anyone can help me unravel this I'd really appreciate it.
  • dunstonh
    dunstonh Posts: 116,362 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Has anyone else encountered this discrimination?

    How is it discrimination?
    Would The Equality Act 2010 cover this?

    Are you disabled?
    Are they refusing to do it because you are disabled?
    ReAssure has stated that if I live in the UK they could do this.

    most ReAssure plans do not support the drawdown options. Are you sure you are not mixing up ability to do it?
    I don't know whether it's The UK Govt imposing these restrictions or the UK pension industry or ReAssure?

    What restrictions are you referring to?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • neoman62
    neoman62 Posts: 39 Forumite
    ReAssure differ with your opinion wrt draw-down. Thanks for your input though.
  • dunstonh
    dunstonh Posts: 116,362 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    neoman62 wrote: »
    ReAssure differ with your opinion wrt draw-down. Thanks for your input though.

    I have done several drawdown cases recently with ReAssure plans and each one stated they did not allow drawdown.

    So, I stand be my comment that most ReAssure plans dont support drawdown.

    From your wording, one of them could be a section 32 buy out bond. I am not aware of any Section 32 buy out bond on the market that allows drawdown. But we are working on very limited info here as you are holding a lot back and asking us to comment in the dark.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • neoman62
    neoman62 Posts: 39 Forumite
    I have the correspondence in front of me, thanks.
  • dunstonh
    dunstonh Posts: 116,362 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    It's like drawing blood from a stone.

    Well, good luck with it.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • neoman62
    neoman62 Posts: 39 Forumite
    Dunsonh, I'm not holding anything back and if you read the info I posted originally it answers most of your subsequent questions. I do agree that there is a lot of deliberate misinformation in your industry. Thanks once again.
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