Every pension provider has their own way of handling transfers. At Pension App, we work closely with providers to make sure the process is as smooth as possible, but it’s helpful to know what to expect. In this article, we look at how transfers typically work with Legal & General.
When transferring a pension from Legal & General, a Pension Liberation Questionnaire (PLQ) is required. This form is used by providers to confirm that your transfer request is genuine and not linked to pension scams. It is part of the wider due diligence carried out across the industry.
If Legal & General already have your email address, the PLQ is sent electronically within 10 working days. If they do not, a paper copy is sent to your home address within the same timeframe. When posted, Legal & General include a freepost envelope so that the completed form can be returned easily.
The PLQ is an important part of the transfer process. Until it has been returned, Legal & General will not proceed with the transfer. This is why it is always worth keeping your contact details up to date with providers.
Our Transfer Specialists keep in close contact with providers like Legal & General to make sure these steps are completed without unnecessary delays. We guide customers through the process of returning forms and track the progress of the transfer until it is complete.
Every provider has slightly different requirements when it comes to transfers. Legal & General’s use of the Pension Liberation Questionnaire is one example of the checks that are in place to protect customers. At Pension App, we handle the details on your behalf, keeping the process as straightforward as possible.
With pensions, your capital is at risk.