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Question

How long will a Pension transfer take?

Answer

It is difficult to predict how long it will take to complete the transfer of your Protected Rights into your Barclays Stockbrokers SIPP since this is dependent upon your current pension provider.

The process is generally quicker if you follow up your current provider to encourage them to complete the transfer. You should expect it to take at least 4 weeks to complete the process.

Barclays Stockbrokers will refund up to £150 per account of transfer out costs charged by you previous provider, up to a maximum of £500 per client.

We will process your refund when your account is opened and we have received proof of the transfer costs imposed by your previous broker. This process normally takes around two weeks. Payment will be made to your Barclays Stockbrokers MarketMaster, SIPP, chosen bank account or by cheque. Please note we are unable to pay fee refunds directly into an ISA and refunds will only be able to be added to a SIPP where a pension has been transferred (please note refunds will not count as a contribution). Barclays Stockbrokers reserves the right to terminate or amend this offer at its discretion.

 

 

 

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