Had a horrible experience managing partial transfer of my workplace pension to standard UK based SIPP provider (Hargreaves). In the name of protecting customer and following some unnecessary rules, they deliberately delay the process as long as possible even though HL is fully compliant with FCA requirements and there is zero risk of Scam.
First of all their process is fully paper based and even they claim to follow electronic process (Via Nova) the starting point is to get a quote and provide wet signatures of member as well as receiving scheme provider.
They then send you additional forms (which are not necessary unless the transfer is to an overseas pension scheme). They are also required with wet signature.
Then they take 10-12 days to liquidate funds and generate cash to transfer to new scheme.
In my case, they closed the request for transfer from HL SIPP without informing me until I chased causing a further 20 days delay.
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