Hargreaves Landsdown pension transfer out

[Fred Bloggs]

I'm still waiting for my final fund to transfer over!

A couple of things worth checking here. If the investment is a unit trust or OEIC, there may be a share class difference between the platforms. If that's the case, it can add time because the in specie transfer is more complicated.

Also, when moving from HL to II, my holding in Marlborough Special Situations fund disappeared completely for a while before reappearing at II. Worryingly, nobody was quite sure what happened to it in the interim.

Finally, make absolutely certain that for in specie transfers, the before and after holdings are indeed the same.

[Lance]

Finally, make absolutely certain that for in specie transfers, the before and after holdings are indeed the same.

Excellent point well made. I did check mine but it is a risk.

[Fred Bloggs]

Excellent point well made. I did check mine but it is a risk.

One thing to watch with HL is to take a print of the holdings before they are transferred out. I did so, but then on trying to recheck something, I found that the minute your holdings are transferred out of HL, no historical information remains on your account. So, you have no before reference available unless you are foresighted enough to take a snapshot of the HL account.

[jmo21]

do they need to sell a fund or can it transfer as the fund? It might take longer of they need to sell it

A couple of things worth checking here. If the investment is a unit trust or OEIC, there may be a share class difference between the platforms. If that's the case, it can add time because the in specie transfer is more complicated.

Also, when moving from HL to II, my holding in Marlborough Special Situations fund disappeared completely for a while before reappearing at II. Worryingly, nobody was quite sure what happened to it in the interim.

Finally, make absolutely certain that for in specie transfers, the before and after holdings are indeed the same.

Oh I know it is being converted to a different class, they give you various options (convert, leave at old provider, sell and transfer as cash), but so were a few other funds that have been converted and transferred already.

It finally left HL a few days ago, and funnily enough is not showing in II yet. I have been tracking both sites every other day and screenshotting the values to make sure everything transfers successfully. II tell me it can take up to 2 weeks from HL releasing the fund to arrive in the II account.

[Lance]

One thing to watch with HL is to take a print of the holdings before they are transferred out. I did so, but then on trying to recheck something, I found that the minute your holdings are transferred out of HL, no historical information remains on your account. So, you have no before reference available unless you are foresighted enough to take a snapshot of the HL account.

I noticed that. I got the winter statement though and that was accurate as I'd stopped buying into that particular fund. Took a screenshot of the other at that stage.