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    • Sarah c124
    • By Sarah c124 11th Feb 18, 10:32 AM
    • 12Posts
    • 1Thanks
    Sarah c124
    Statutory right to transfer
    • #1
    • 11th Feb 18, 10:32 AM
    Statutory right to transfer 11th Feb 18 at 10:32 AM
    Hi

    Could someone please explain what a statutory right to transfer if please.
Page 1
    • Silvertabby
    • By Silvertabby 11th Feb 18, 10:42 AM
    • 2,538 Posts
    • 3,503 Thanks
    Silvertabby
    • #2
    • 11th Feb 18, 10:42 AM
    • #2
    • 11th Feb 18, 10:42 AM
    In very simple terms, it used to mean that anyone in an occupational pension scheme had the statutory right to transfer out of the scheme as long as they were at least 12 months from their NRA.

    Of course, the biggest change to that is in respect of non-funded public sector schemes. These can now only be transferred out to certain other DB schemes, and not to DC/private pensions as in the past.
    • Sarah c124
    • By Sarah c124 12th Feb 18, 9:00 PM
    • 12 Posts
    • 1 Thanks
    Sarah c124
    • #3
    • 12th Feb 18, 9:00 PM
    • #3
    • 12th Feb 18, 9:00 PM
    I've found out that I do actually have a statutory right to transfer my pension.

    Now how do I excercise this?

    Can it speed up a transfer as my current scheme are taking forever
    • xylophone
    • By xylophone 12th Feb 18, 10:20 PM
    • 25,157 Posts
    • 14,819 Thanks
    xylophone
    • #4
    • 12th Feb 18, 10:20 PM
    • #4
    • 12th Feb 18, 10:20 PM
    You are currently exercising your statutory right to transfer?

    You have asked WTW to transfer your pension to your chosen provider?

    WTW are checking the RS of the chosen provider?

    http://forums.moneysavingexpert.com/showthread.php?p=73850211#post73850211
    • Sarah c124
    • By Sarah c124 12th Feb 18, 10:24 PM
    • 12 Posts
    • 1 Thanks
    Sarah c124
    • #5
    • 12th Feb 18, 10:24 PM
    • #5
    • 12th Feb 18, 10:24 PM
    Thanks for this, I didn't know if because I have this right and by seeking clarity from a legal aid this over rules everything and should proceed from this?
    • xylophone
    • By xylophone 13th Feb 18, 12:35 AM
    • 25,157 Posts
    • 14,819 Thanks
    xylophone
    • #6
    • 13th Feb 18, 12:35 AM
    • #6
    • 13th Feb 18, 12:35 AM
    Thanks for this, I didn't know if because I have this right and by seeking clarity from a legal aid this over rules everything and should proceed from this?
    What has legal aid to do with transferring your pension from one provider to another?
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