| schedule of pension arrangements [message #385098] |
So, 07 Mai 2006 13:16 |
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Hi
I have a pension that i'm trying to transfer out from the ##### group to
another pension plan. Worth about 600 pounds. They have sent me a "schedule
of pension arrangements" form to complete giving details of all my pension
arrangements, before they will release my money.
Do I have to complete this form ?
Thanks
J
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| Re: schedule of pension arrangements [message #385126 ] |
So, 07 Mai 2006 21:40 |
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They should'nt need to know about ALL your other pension arrangements,
but they will need to know the particulars of the receiving scheme
where you are transferring the funds to.
Are you sure that you are interpreting this correctly, as it seems a
bit unusual to ask this.
Rgds
Neil.
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| Re: schedule of pension arrangements [message #386436 ] |
Mo, 08 Mai 2006 09:54 |
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In message <O9KdnWaeE5mgSsDZRVnyrg [at] bt.com>, Jack <No [at] mail.Please> writes
>Hi
>I have a pension that i'm trying to transfer out from the ##### group to
>another pension plan. Worth about 600 pounds. They have sent me a "schedule
>of pension arrangements" form to complete giving details of all my pension
>arrangements, before they will release my money.
>Do I have to complete this form ?
Yes, sine A Day on 6th April they will be checking that the cash value
of all your pension plans does not exceed the Lifetime Limit.
--
John Boyle
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| Re: schedule of pension arrangements [message #386452 ] |
Mo, 08 Mai 2006 12:55 |
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Errr, I forgot about this little point.....
But on a more theoretical angle, I wonder what the point of this
actually is.
Surely it is irrelevant how much your pension funds are worth, as the
'lifetime limit' only applies when you 'crystalise' the funds (i.e.
take the benefits).
Therefore, if I have =A32,000,000 worth of pension funds in a couple of
years time, and I have not exercised the right to Protection of pre
A-Day benefits (lets assume that they were well below =A31,500,000
before A-Day) surely that is no reason to actually block a transfer
from one provider to another. The only problem I should face is the
recovery charge if I chose to take the benefits.
Even if there is no sensible point to this, what is the subtext behind
this ?
Thanks
Neil.
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