Hi,
I transferred a company pension to a standard life buy out bond approx 11 years ago. I happened to look at the historical annual value based on todays date and I find that for the first 5 years an "early encashment charge" is levied on the value of the fund... this is the first time I've become aware of this - I know little about pensions ect but intuitively it would suggest I withdrew my pension but apart from getting a yearly statement from standard life I've not ever taken a cent from it?
Does anyone know if this type of charge is part of the buy out bond? btw it called "standard life managed fund"
Thanks in advance
I transferred a company pension to a standard life buy out bond approx 11 years ago. I happened to look at the historical annual value based on todays date and I find that for the first 5 years an "early encashment charge" is levied on the value of the fund... this is the first time I've become aware of this - I know little about pensions ect but intuitively it would suggest I withdrew my pension but apart from getting a yearly statement from standard life I've not ever taken a cent from it?
Does anyone know if this type of charge is part of the buy out bond? btw it called "standard life managed fund"
Thanks in advance