gemstone Posted December 29, 2014 Share Posted December 29, 2014 I started the uk pension transfer 2 months ago independently. But it seems I missed a vital piece of paperwork. Which means that teacher pensions may not get all the required documentation until late January. (Due to having to send documents to Hesta and then Hesta to UK.) Is it likely that this delay will now mean I have no chance of processing in time to meet the April ban? I only have a very small pension in the UK but would have liked to see my options. Does anyone have any ideas/advice with this? Thanks Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted December 30, 2014 Share Posted December 30, 2014 If they receive all the paperwork by late January then this should still leave time to get it transferred. There may be an obstacle if you are past the 3 month guarantee period and if so a new CETV will have to be calculated by the Actuary which will then mean a further delay and likely charge to you but this will depend on what paperwork they have already received and the timeframe it was received in. Still even if another CETV is required and they have all of the paperwork from you at that point it could still be doable. Regards Andy Quote Link to comment Share on other sites More sharing options...
gemstone Posted December 30, 2014 Author Share Posted December 30, 2014 Thank you Andy. I had only sent the request for transfer of funds application form to teacher pensions. I had a letter yesterday saying they needed a formal request from my super fund. Which is now in the process. So I am in the very early stages. Is the initial application form the CETV or should I have another form? Teacher pensions told me about a PODCETV last night, which I found on the website, but it had not been mentioned before. As mentioned I have very little to transfer so I'm not even sure it will be worth it at the moment, and this is also the reason I decided to do it independently, although kind of regretting that decision now. Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted January 3, 2015 Share Posted January 3, 2015 Hi The Cash Equivalent Transfer Value (CETV) usually comes with the request for transfer paperwork when enquiring to transfer, we specifically request the CETV so I couldn't say 100% whether they would have formally calculated one for you when you requesting the transfer paperwork however I imagine that they would have done. A PODCETV is related to a Pensions on Divorce and Dissolution Cash Equivalent Transfer Value so I am not sure why this is relevant and whether you had requested this specific type of CETV? PODCETV aside when we deal with Teachers Pension we send them the section of our Statement of Advice that details the investment portfolio recommended and this has always pacified them, usually when transferring pensions UK to UK an illustration needs to be provided to the client by the receiving scheme in relation to projected retirement benefits, it's not required in Australia so Super Funds here do not generally provide anything. If Teachers Pension have received the request to transfer signed by you and a CETV was sent then this would generally secure the guaranteed value and if so you should still have time left to transfer so long as Hesta can get them what they want. Regards Andy Quote Link to comment Share on other sites More sharing options...
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