Funds Insider - Opening the door to funds

Welcome to the Citywire Funds Insider Forums, where members share investment ideas and discuss everything to do with their money.

You'll need to log in or set up an account to start new discussions or reply to existing ones. See you inside!

Notification

Icon
Error
Delays with Vanguard SIPP Transfers Out
+ Reply to discussion
Options
Blunt Instrument
Posted: 06 November 2024 11:06:52(UTC)
#38

Joined: 21/03/2020(UTC)
Posts: 355

Thanks: 426 times
Was thanked: 1782 time(s) in 327 post(s)
Rob B;324634 wrote:
They royally f*cked it all up. For all 10 points highlighted above, they found in my favour. The result was a not insignificant compensation payment for time out of the market (sent direct to my work pension) plus what I'd describe as an 'entry level' personal compensation payment for my time.


Kudos for pursuing this through to resolution!
Back to top Quote
1 user thanked Blunt Instrument for this post.
Guest on 06/11/2024(UTC)
SF100
Posted: 06 November 2024 15:03:17(UTC)
#39

Joined: 08/02/2020(UTC)
Posts: 2,259
Vanguard are still trying to determine whether I lost out due to time out of market (I didn't really).

At the risk of digressing...

Here's my experience trying to transfer funds out of a current Scottish Widows DC pension scheme into a SIPP with ii. SW confirmed partial transfers were permissable. And their documentation inferred total flexibility.

Funds held in SW
Equities - International
Equities - UK
Equities - EM
Cash - MMF

SF100 to SW: I'd like to sell & partial transfer some of my cash to my SIPP.
A: no you can't do that, sales are done on last in first out basis (meaning I'd need to sell equities as well).
SF100 to SW: This is ridiculous. Let me speak to the manager.
A: ditto.
SF100 to SW: This is ridiculous. I'm complaining, here it is in writing.
A: (after several weeks/months) complaint not upheld.
SF100 to ombudsman: ditto, here's all the email correspondence and fund paperwork.
A: (after several weeks/months) ditto, SW don't need to play ball, not upheld.

After some procrastinating, thought I'd test it out in practice for a small amount to see.

SF100 to ii: I'd like to transfer £1k from SW to ii, funds to be taken from Cash MMF.
ii to SW: ditto.
SW to ii: there are several funds within this DC account, which fund is to be sold down by £1k?
ii to SF100: ditto.
SF100 to ii: sell down the fund stated on the transfer request.
ii to SW: ditto.
SW to ii: we have sold down Cash MMF by £1k. Here's the cash.
Back to top Quote
 |  Edit by user
allocator3844
Posted: 12 November 2024 08:33:54(UTC)
#40

Joined: 27/10/2020(UTC)
Posts: 190
I have had a problem transferring a small amount from VG to II and have formally complained to both parties. Most of it got transferred in good time but some tax relief came in to VG after this transfer. Only a small amount but both parties say they haven't got it and effectively blame each other. Lengthy messages (lots of it either cut and paste paragraphs or gobbledegook) from both parties has meant they are both spending so much time on it. At last they actually spoke to each other but still not resolved. VG mentioned a third party.
Back to top Quote
4 Pages«Previous page234
+ Reply to discussion

Markets

Other markets