Transfer out RMCPP

[flimflamman]

Hello,I recently left RM and hoped to transfer out the small amount in my RMCPP to a sipp as the amount is only £3800, I have twice attempted to transfer it but each time it failed due to the pension provider saying the pension was "not enforced"with no further details,I have tried using Royal Mail Collective Pension Plan and Royal Mail Pensions Trustees Ltd as names for the pension provider but I still cannot get the transfer to go through, am I using a wrong name for the provider and can anyone help,thank you

[RobertT]

I'm guessing you're trying to transfer via your SIPP provider and by using the value of your RMCPP benefits when logging into their website?

There are two problems with that:

1. You're trying to transfer a CDC pension into a DC pension which are two different types of scheme, so the process is going to be more protracted than if you were doing a DC to DC transfer.

2. The value you've got is only a rough guide to what your benefits are worth and you'll have to contact the RMCPP to get a formal and exact quote before you can transfer.

Take a look at pages 50 & 51 of the RMCPP handbook(on the website) for more info.

[dudek05]

I managed to transfer mine when I left a few months ago to a SIPP with Hargreaves Lansdown to consolidate with the previous RM pension I had transferred.

[RobertT]

I managed to transfer mine when I left a few months ago to a SIPP with Hargreaves Lansdown to consolidate with the previous RM pension I had transferred.

Perhaps you can confirm the process for the OP.

[flimflamman]

Thank you Robert,I'm embarrassed that I know so little about pensions at the end of my working life

[dudek05]

It was a bit laborious. The first transfer from the previous pension administered by Scottish Widows went like a dream. The second one in the current scheme took about 3 to 4 months. I contacted RM pensions at Sheffield and they sent me a transfer out pack in the post ( our post isn't the most reliable/ speedy lol). I contacted HL online and informed them I wanted to transfer in and from there just basically completed any requests and forms from each company. HL kept chasing RM for me and eventually the value of pension and avc's transferred across.

[flimflamman]

Thanks for the info Dudek05,sometimes it feels like leaving Royal Mail is more difficult than working for them

[dudek05]

As part of the process RM wanted me to send id in the post to confirm my id. I sent a driving licence which did come back to me as a signed for. I didn't have to do this with the Scottish Widows transfer.