# Standard Life Pension Problem



## Lempzours

Hello, I posted about this subject way back in early 2021….

Summary….standard life sent me a letter stating that as I was an expat here in France, my only options for my pension was to cash it in completely….not overly happy with that one….or to transfer it to an overseas company…The reason they gave me back then was Brexit & because I had an old style private pension….surely all pensions are old style by the time you draw them….

Had lots of replies , all of us agreeing that hopefully the the Financial Services will find a solution & the Pension Companies get their acts together… As like me the other replies had two years plus before retirement, but now I’m only 6 months away…

sorry, for the long post, but I’m wondering if any of you have had an favourable updates on your pensions…

Thank you


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## Clic Clac

Think I remember chipping in last year....

Can you quote what they actually wrote?

What type of 'old style' pension is it? Is it a PPP ( July 1st 1988+) or the previous 'Retirement Annuity Plan'?

They may well have different rules, and the latter was before my time.

It's normal practice to 'shop around' for the best annuity rate offers with other providers, so once you understand what you have then speak to a few of the other big companies

to see if you can buy your annuity in the UK.

I believe annuity rates are on the rise at the moment - but Crazy Kwarteng might have knocked some off your pot, depending whether or not the funds have already been moved 

away from higher risk equity funds, which they usually do as the end of the plan approaches.


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## Lempzours

Clic Clac said:


> Think I remember chipping in last year....
> 
> Can you quote what they actually wrote?
> 
> What type of 'old style' pension is it? Is it a PPP ( July 1st 1988+) or the previous 'Retirement Annuity Plan'?
> 
> They may well have different rules, and the latter was before my time.
> 
> It's normal practice to 'shop around' for the best annuity rate offers with other providers, so once you understand what you have then speak to a few of the other big companies
> 
> to see if you can buy your annuity in the UK.
> 
> I believe annuity rates are on the rise at the moment - but Crazy Kwarteng might have knocked some off your pot, depending whether or not the funds have already been moved
> 
> away from higher risk equity funds, which they usually do as the end of the plan approaches.


all the reply I got was that the only option I have is to cash the pension in its entirety..They are unable to offer Drawdown or an Annuity to oversea customers. 
it’s a PPP 1991..
I was just wondering if anyone else on here is with Standard Life & hoping to take their PPP early next year….


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## Lempzours

Lempzours said:


> all the reply I got was that the only option I have is to cash the pension in its entirety..They are unable to offer Drawdown or an Annuity to oversea customers.
> it’s a PPP 1991..
> I was just wondering if anyone else on here is with Standard Life & hoping to take their PPP early next year….
> I want a drawdown pension not an annuity…


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## BAZERD

I’ve had something similar from Aviva for a pension plan saved for but never cashed in. As soon as I told them I was a French resident they seem to have got confused and appear to have said they would deduct tax at the energency rate If I wanted to cash it in etc And I am waiting for clarification. I can update this if and when I hear if it helps?


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