The pack we have sent to you contains instructions on which forms you need to complete. If you need more help, please speak to your financial adviser or contact us.
Once we’ve received correctly completed instructions and any other information we have asked for, from both you and your new provider, we will make payment directly to your new provider, usually within five working days. We will write to tell you when we have made the transfer payment.
We will transfer the value of your funds to your new provider by BACS or cheque. Your new provider will tell us their preferred method of payment in the Transfer Quotation and Declaration form.
Sometimes, guarantees that are built into your pension can be lost when it is transferred. Also, there are sometimes market value reductions or other deductions which could affect the transfer value amount. If you are unsure, please read through your policy terms and conditions or contact us. Any deductions will also be set out in the transfer pack we have sent to you.
Yes, the receiving scheme must be registered with HM Revenue and Customs as a Qualifying Recognised Overseas Pension Scheme (QROPS) before the transfer can take place. Please contact us if you need more information on this.
You can find details of the documentary evidence we need, and a form to complete, in the ‘How to – change your name’ section.
You can still request a transfer value using the online form, but any correspondence will be sent to you in your previous name. We can’t update your records until we have received the completed form and required documentation from you. Your transfer may be delayed if the names don’t match.
