Transfer of sipp to Zurich Flexiplann

Snurgs · Post by **Snurgs** » 19 Jun 2019, 18:52

I started to doubt myself when i saw your reply Robert T . It was infact a policy i had with Equitable Life through Royal Mail AVC that had folded and was then frozen in a separate account that i transferred into my current AVC . Probably as it had been arranged through pay roll it was easy enough to transfer . You're probably right in that a policy outwith Royal mails affiliation you wont be able to transfer in . Keep your comments coming Robert T . You're an asset to the forum

Post by **RobertT** » 20 Jun 2019, 04:34

Snurgs wrote:I started to doubt myself when i saw your reply Robert T . It was infact a policy i had with Equitable Life through Royal Mail AVC that had folded and was then frozen in a separate account that i transferred into my current AVC . Probably as it had been arranged through pay roll it was easy enough to transfer . You're probably right in that a policy outwith Royal mails affiliation you wont be able to transfer in . Keep your comments coming Robert T . You're an asset to the forum

It sounds as if you had a 'with profits' RM AVC via Equitable Life and chose not to transfer over to Zurich when they took over in 2010?
Therefore when you did decide to transfer, you just moved your money from one RM AVC provider to another.

The previous AVC providers were:

Aviva(ex Norwich Union)
Legal & General
Santander(ex Abbey National)
Standard Life
Equitable Life

k979aaa · Post by **k979aaa** » 22 Jun 2019, 17:09

Well with the Capitalist system we have the provider is entitled to his CUT and if that means we all pay for it that is why we need a better investment system than relying on the dissensions of others for their personal gain for that is what Capitalism is it not.

Snurgs · Post by **Snurgs** » 24 Jun 2019, 21:07

Quick question for Roberto . Can you pay any more into the new DB pension aswell as Flexiplan ?

Post by **RobertT** » 25 Jun 2019, 04:32

Snurgs wrote:Quick question for Roberto . Can you pay any more into the new DB pension aswell as Flexiplan ?

If you're in section C or section F(ex DC members now paying into DBCBS) you can also pay into Bonusplan which benefits from a bit of extra money from RM aswell as the benefits of tax relief and PSE.
But you can't pay any more directly into the DBCBS as that is a set 6% of your pensionable pay.