Author Topic: Vanguard transfer  (Read 4117 times)

Chicothecat

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Vanguard transfer
« on: September 14, 2023, 07:25:37 AM »
Hi all
I wondered if anyone has any issues recently with transfers into Vanguard, I ask as I started a JiSA transfer on 18 April but the transfer still hasnít happened and their complaints team messaged  to say that I can complaint to the Ombudsman in the next 6 months after which I cannot. I thought I would wait for them to resolve it before doing that but canít leave it too long. Has anyone got any similar experiences?
Ta 😁

MisterA

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Re: Vanguard transfer
« Reply #1 on: October 06, 2023, 05:06:50 AM »
Yes! me.

I transferred 2 previous SIP pensions into Vanguard, and they took months and months. They were from Scottish Widows and Standard Life (both major UK pension companies)..

I'd like to transfer a fair bit of my current work SIP  pension to Vanguard, but I'm very disheartened after my previous experiences. So in March I requested a £15k transfer as a trial, and I'm still waiting. I've chased them and returned anything they've asked for, but they put he blame on the other provider. I'm close to giving up on the transfer. The only time I get an update is when I enquire, the service is rubbish.

Yes, I guess I could complain to the ombudsman.

Affable Bear

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Re: Vanguard transfer
« Reply #2 on: October 09, 2023, 06:33:08 AM »
I experienced the same thing, I think its a combination of verifying the transfer request, how good the other company is and how willing they are to be 'quick' to transfer things out. I was a bit dubious but I think my Nest one came through after about 3 months so I held on for my other one with Aegon I think it took like another 2 months but I waited as the Nest one came through.

Definitely think it depends on the provider you are transferring from!

Chicothecat

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Re: Vanguard transfer
« Reply #3 on: October 16, 2023, 04:09:55 AM »
Thanks both I just checked with them again and after 6 months the JISA is still awaiting the transfer. They took a month to get a form Ďready to postí. Itís made me rethink opening a s and s isa with them. Need to look for another provider I think.

Chicothecat

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Re: Vanguard transfer
« Reply #4 on: January 22, 2024, 02:06:08 PM »
A little update. The transfer happened in November eventually so a good 7 months to transfer. They then investigated it and decided £350 would be compensation for my troubles and also would pay me the loss of investments I (my daughter) suffered. They have proceeded to pay me both the two amounts to me twice.
No I havenít said anything yet.
A duplicate payment was made yesterday 6 weeks after the first. Itís not great admin at all is it? I know a few other people were finding lengthy delays too. I donít quite know what to think about using them to transfer another pensionÖ makes me nervous!

Brit71

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Re: Vanguard transfer
« Reply #5 on: January 24, 2024, 07:17:19 AM »
I put all my SIPP and ISA pots into one provider (AJ Bell) about a decade ago and I was surprised how easy it seemed.  In fact I thought it was too easy apart from getting a couple of warning leaflets about pension scammers.

But I understand that this has got considerably harder since.  I'm partially transferring my current work pension now and I've noticed that the bureaucracy is generally higher and also read a couple of stories that some providers are being almost deliberately obstructive by weaponising some of the anti-scammer measures - for example never say that you are going to buy foreign shares, even if they're through Investment Trusts.

But a lot of your problems do seem to be due to Vanguard starting a UK retail operation as a new business.  Although I can see them coming through this, it's not at all encouraging.  I suppose with Vanguard you have to treat it like Aldi, it's always going to be considerably less smooth than Waitrose.

Chicothecat

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Re: Vanguard transfer
« Reply #6 on: January 30, 2024, 03:02:50 AM »
Yes there are some definite admin issues there. Otherwise I feel happy with them.
We have a new workplace pension with Aviva and they do have some low TERs on the limited range of funds so I am wondering if I should just transfer it over to Aviva, they also allow partial transfers out so I guess it would give me some flexibility. Apart from fees and admin is there anything else I should consider? Aviva donít have a huge range of investments to select from which is a downside but otherwise it looks ok.

Monkeytennis

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Re: Vanguard transfer
« Reply #7 on: March 08, 2024, 12:07:21 AM »
My transfer took 3 months, horrible process and digital experience