Looking at Self administered option rather then one insurance company. Is setting up a self administerd pension complicated. Would welcome some guidance
It's not much more complicated than setting up an insured Buy-Out Bond.
Completed application form for the Buy-Out Bond
Whatever form of instruction the transferring scheme requires - you formally ask them to transfer the fund into your Buy-Out Bond
Usual forms of ID
Trustees of the transferring scheme need to sign off on the transfer and sign the Buy-Out Bond application form
With a self-administered Buy-Out Bond, additional requirements centre around what you want your funds to be invested in. So there may be a further application for a bank account, share trading account and/or specific investment to be held within the Buy-Out Bond.
Funds are transferred by the transferring pension scheme directly into the Buy-Out Bond.
Your broker should be able to arrange all the paperwork.