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Direct-offer transfer service from ScotEq

Scottish Equitable has set up a direct-offer transfer process aimed at minimising the time and effort that advisers put in to completing a pension transfer and helping them to access a potential £1bn market.

ScotEq says the adviser and employer become facilitators for the process, with the company shouldering the workload. It is providing a comprehensive compliant transfer pack with the information that a client needs to decide whether to go ahead with the transfer, meaning that the adviser has only to complete a scheme criteria checklist to ensure that the transfer is appropriate.

This service is available for the transfer of previous pension benefits to a ScotEq scheme for group personal pensions and group stakeholder business. There are plans to extend the process in the future.

ScotEq says its support package includes system improvements to speed up the transfer process between insurers and a centralised transfer team to ensure that the process is smooth.

Group pensions and employee benefits manager Alison Ritchie says: “The dedicated transfer team is a real bonus for advisers. The team help with the transfer process and build relationships with the previous insurer to ensure a fast and smooth transfer.”


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