Stakeholder personal pensions

[PurpleMoonlight]

Anyone know if the stakeholder requirements cover partial transfers, in particular the minimum that the personal pension provider insist must remain in the personal pension?

Prudential want £30,000 left behind!

[JulianPH]

The only Stakeholder requirement on transfers (that I am aware of) is no additional charges/restrictions on transfers in to your pension.

I don't think there is anything specific on transfers out and certainly not on partial transfers out.

Are you in the Prudential With Profits fund within your pensions? That may have an impact.

It seems very strange they are asking you to leave a minimum of £30,000 invested. I wouldn't have thought they could do this (but you perhaps should speak to a financial adviser).

Is there a reason you are only transferring part of this pension?

Cheers

[PurpleMoonlight]

It's not my policy.

The policy receives ongoing member and employer contribution so needs to stay live for this. They want to use the transfer for a commercial property purchase via another pension arrangement but wont have enough if Pru insist on keeping hold of £30,000.

I've emailed Pru to request evidence of their right to retain such a high amount but it will likely take them a while to respond.

[JulianPH]

Perhaps if you give a bit more info then you could get a better answer? Only trying to help.