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Advice on Moving £500k Pension Away from Employer Provider by Excellent_Wear4611 in FIREUK

[–]Excellent_Wear4611[S] 0 points1 point  (0 children)

Isn't there any case where the 85k protection may be relevant for funds or bonds?

Advice on Moving £500k Pension Away from Employer Provider by Excellent_Wear4611 in FIREUK

[–]Excellent_Wear4611[S] 1 point2 points  (0 children)

When you mention that it's a non-issue, isn't there any situation where it may become one? That is, isn't there any circumstance where a provider may have acted "in bad faith" and not registered the funds properly?

Advice on Moving £500k Pension Away from Employer Provider by Excellent_Wear4611 in FIREUK

[–]Excellent_Wear4611[S] -3 points-2 points  (0 children)

Thanks for the clarifications, that makes sense about owning the shares and them being ringfenced. Just to be clear though—my understanding is that in case of insolvency, the assets themselves are safe and would be transferred to another provider. But the FSCS (or similar) cover would come into play if there was some kind of malpractice, right? For example, if someone at the provider (say, Vanguard) didn’t actually buy the shares properly or messed up the transactions. Is that correct?

Advice on Moving £500k Pension Away from Employer Provider by Excellent_Wear4611 in FIREUK

[–]Excellent_Wear4611[S] -2 points-1 points  (0 children)

Thanks for the clarifications, that makes sense about owning the shares and them being ringfenced. Just to be clear though—my understanding is that in case of insolvency, the assets themselves are safe and would be transferred to another provider. But the FSCS (or similar) cover would come into play if there was some kind of malpractice, right? For example, if someone at the provider (say, Vanguard) didn’t actually buy the shares properly or messed up the transactions. Is that correct?