Customer service advise 30 days to complete SIPP transfer from Vanguard.
How is your experience going?
I made my request (in specie) on the 14th December.
Received email confirmation of the request on the 18th Dec, which advises that a further update will be made when Vanguard have been contacted to request the transfer.
No more to date. Two weeks in and still waiting for IE to contact Vanguard.
How’s it going for everyone else?
I’ve helped a couple of family members with in specie transfers out of vanguard to other providers over the last year.
Never had the transfers completed in less than 6 months. From everything I can tell, it’s vanguard/fnz that have been at fault for the slow process.
I suspect this will be a real problem given their min charge of £4 a month. I’d persoanlly file a complaint with vanguard and ask for a refund on any custody fees if the transfer process takes longer than 30 days.
Mine appears to be “stuck” too. Firmly believe that there’s going to be a mixture of Vanguard being swamped with requests to transfer out and equally having no incentive to actually make it happen.
Hello, it’s great to hear you’ve chosen to transfer to us.
SIPP transfers take a little longer than ISAs and usually take 6-11 weeks. However, Vanguard have a high level of transfer requests at this time and it may take a lot longer for the transfers to be completed.
If we require anything further from our clients to help move the transfer along or once the funds have been received, we will notify you via email.
Hi I am looking to transfer 2 Aviva pension in to a SIPP is this in the pipeline?
For what it is worth my ISA transfer from Vanguard to IE has just gone through, commenced on the 15th of December so less than a month. I had some trouble with my SIPP transfer so that would not have commenced for another 5 days or so. I gather SIPPs take a bit longer but fingers crossed the SIPP will transfer in a similar time frame.
I received a confirmation email on the 20th Dec which, as stated above, said, “We’ll contact Vanguard shortly to request the transfer, and we’ll send you a confirmation email once that’s done.”
I haven’t heard any more. Does that imply that the SIPP transfer hasn’t actually reached Vanguard yet? (Obviously, the time of year isn’t helping our cause)
Thanks
@CitizenKane
Well… methinks you need to allow longer.
As per the above:
SIPP transfers take a little longer than ISAs and usually take 6-11 weeks. However, Vanguard have a high level of transfer requests at this time and it may take a lot longer for the transfers to be completed.
If you had your email on 20/12 then 6 weeks is to 31/01, whereas 11 weeks is to the beginning of March. and as you said the time of year isn’t helping of course.
“We’ll contact Vanguard shortly to request the transfer, and we’ll send you a confirmation email once that’s done.”
It doesn’t say when the ‘transfer is done’, which is where the 6-11 weeks comes in. It’s worded that they will send an email once they have forwarded the request to Vanguard, which is what happened with my ISA transfer from Vanguard in July.
“It’s been processed by our transfer team and is currently with Vanguard UK”
I was just asking for clarification.
That’s what’s got me concerned, I’m not sure IE have actually processed the requests to Vanguard. I’ve heard nothing from Vanguard to say they’ve received the request.
It wouldn’t be my concern that they said they were ready for Vanguard transfers in order to secure the business, but don’t actually have the infrastructure in place still, and that we could still be waiting on some undefined timeline like others who want to transfer from other providers.
I’ve heard nothing from Vanguard either.
I would like to know the precise date they receive/d the transfer request so that when the extra charges start at the end of this month, we might get some compensation if this drags on for months.
I know it’s only a small amount of money but still…
I requested my transfer a few weeks ago and just got a message from vanguard saying they go my transfer so I’d imagine few more weeks and it will be moved across. Have to wait and see
Do all of the pending HMRC tax relief payments follow to Investengine and show in the transactions of the IE SIPP account automatically?
Im not sure i havent paid in for a while so nothing is pending for me at the moment
Received an email from IE today which states they still haven’t sent the requests across to Vanguard (!!) - so looks like I was right about them not actually being ready for the transfer requests and that it was just a bold grasping for business.
That’s hugely disappointing and significantly lowers my faith in the business from an honesty and integrity perspective. And since the request still hasn’t gone to Vanguard after what - a month!! - it seems likely this will drag on ad nauseam, like most Investengine interactions.
Hopefully, they will recognise their liability for covering costs (Vanguard’s increased fees from next month) incurred by customers who were reasonably expecting their SIPP’s to be transferred in good order.
@kyotoguardian Well, you are choosing to transfer to a free platform to save £4 per month.
You should decicide what you place more importance on, saving £4 per month, or the customer support.
I mean i have a different experience, I also got an email from IE saying they sent my request through so I guess it varies on who and when as to your transfer time
Still waiting to be able to transfer cash from another sipp 
I am much the same. After 3 weeks IE telling me what they will do not what they’ve done so them claiming the problem is that Vanguard are having lots of requests is simply not true. The problem is that IE are not processing the requests in a timely manner.
This is disappointing customer service and increasingly appears to be nothing more than an attempt to grab business when IE didn’t have the infrastructure to actually deal with it.