Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • neoman62
    • By neoman62 9th Aug 18, 12:00 AM
    • 39Posts
    • 10Thanks
    neoman62
    ReAssure
    • #1
    • 9th Aug 18, 12:00 AM
    ReAssure 9th Aug 18 at 12:00 AM
    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.
Page 1
    • xylophone
    • By xylophone 9th Aug 18, 12:05 AM
    • 26,791 Posts
    • 15,969 Thanks
    xylophone
    • #2
    • 9th Aug 18, 12:05 AM
    • #2
    • 9th Aug 18, 12:05 AM
    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
    • By neoman62 9th Aug 18, 12:23 AM
    • 39 Posts
    • 10 Thanks
    neoman62
    • #3
    • 9th Aug 18, 12:23 AM
    • #3
    • 9th Aug 18, 12:23 AM
    I am not eligible to do this.
    • xylophone
    • By xylophone 9th Aug 18, 12:26 AM
    • 26,791 Posts
    • 15,969 Thanks
    xylophone
    • #4
    • 9th Aug 18, 12:26 AM
    • #4
    • 9th Aug 18, 12:26 AM
    I am not eligible to do this.
    Why are you not eligible?
    • neoman62
    • By neoman62 9th Aug 18, 1:25 AM
    • 39 Posts
    • 10 Thanks
    neoman62
    • #5
    • 9th Aug 18, 1:25 AM
    • #5
    • 9th Aug 18, 1:25 AM
    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
    • By dunstonh 9th Aug 18, 10:10 AM
    • 95,303 Posts
    • 62,900 Thanks
    dunstonh
    • #6
    • 9th Aug 18, 10:10 AM
    • #6
    • 9th Aug 18, 10:10 AM
    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). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • neoman62
    • By neoman62 9th Aug 18, 11:31 AM
    • 39 Posts
    • 10 Thanks
    neoman62
    • #7
    • 9th Aug 18, 11:31 AM
    • #7
    • 9th Aug 18, 11:31 AM
    ReAssure differ with your opinion wrt draw-down. Thanks for your input though.
    • dunstonh
    • By dunstonh 9th Aug 18, 11:55 AM
    • 95,303 Posts
    • 62,900 Thanks
    dunstonh
    • #8
    • 9th Aug 18, 11:55 AM
    • #8
    • 9th Aug 18, 11:55 AM
    ReAssure differ with your opinion wrt draw-down. Thanks for your input though.
    Originally posted by neoman62
    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). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • neoman62
    • By neoman62 9th Aug 18, 12:14 PM
    • 39 Posts
    • 10 Thanks
    neoman62
    • #9
    • 9th Aug 18, 12:14 PM
    • #9
    • 9th Aug 18, 12:14 PM
    I have the correspondence in front of me, thanks.
    • dunstonh
    • By dunstonh 9th Aug 18, 12:18 PM
    • 95,303 Posts
    • 62,900 Thanks
    dunstonh
    It's like drawing blood from a stone.

    Well, good luck with it.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • neoman62
    • By neoman62 9th Aug 18, 12:24 PM
    • 39 Posts
    • 10 Thanks
    neoman62
    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.
    • xylophone
    • By xylophone 9th Aug 18, 1:43 PM
    • 26,791 Posts
    • 15,969 Thanks
    xylophone
    Have you asked Reassure if a transfer out of your policies into a SIPP with another pension provider would be permitted?

    If the transfer were permitted, you could enter SIPP drawdown?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,661Posts Today

9,478Users online

Martin's Twitter