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Transfer Bureau - FAQs
Yes we do! Simply download a copy of the Transfer Bureau Guidance Notes to view a detailed summary of how the service works from start to finish.
It depends! There are a number of variables which affect the time it takes to complete a report:
- Our own Transfer Bureau Service Levels.
- The time it takes Scheme Administrators to reply to our information requests.
- The number of times we need to contact the Scheme Administrator for further information.
As such it is important that you submit your report request to us in good time prior to the CETV deadline date.
You can track your case's progress using our secure 'live' Track Your Cases website. An email will be sent to the designated case contact to remind you to do this once we have logged your report request.
Further information about case tracking can be found on Page 9 of our service Guidance Notes.
Alternatively you can Contact Us via email or telephone should you have any queries.
Completed reports are downloaded only from our Track Your Cases website. We will send an email to the designated case contact to confirm when your report is available.
Yes! Once your report is complete a copy of information that we have gathered from the scheme as part of the report production process will be available as an additional PDF download via the Track Your Cases website.
In some cases we may use information retrieved from our Scheme Library to complete your report. Unfortunately as this information has been gathered on behalf of other members of the same scheme we cannot provide copies of the correspondence. This is due to Data Protection restrictions.
Most users of Transfer Bureau like to submit a valid Transfer Value (CETV) statement along with their Case Submission Forms whilst a smaller number ask us to request a new CETV. The following explains what we do in these scenarios:
- When a case is submitted to Transfer Bureau and no scheme information is provided, we will write to the scheme requesting a new CETV if we have a valid Letter of Authority.
- If we are provided a CETV which is in date or has expired but is within the last 12 months, we will not request a new CETV from the scheme. This is because most schemes will only provide a single CETV per 12 month period without charge. We therefore do not wish to incur additional costs for the adviser or client.
- If the adviser obtains a new CETV after the report is issued, we can generate a re-run of the pension transfer analysis report for a much lower cost provided the request is made within 3 months of the initial report being completed.
In our experience many scheme administrators wish to have sight of the original LOA before they will even start work on responding to our information requests. Sending this to the scheme prior to submitting your report request to us has a number of benefits:
- It lessens the chance of the LOA going missing in the post as opposed to if you send the form to us and then we have to post it onto the scheme.
- It ensures that once we are at the stage of sending our initial information request to the scheme they will already have the LOA at their office and logged onto the member's file. In theory this should speed up their response time.
In a word, yes!
There is a limit to the length of time that a case is visible on the case tracking website. Each case, including the downloadable completed reports and scheme information PDF's, will be accessible for a maximum period of 12 months from the date that the initial report was dispatched.
Once this initial period has elapsed it will continue to be stored securely on our servers in line with our GDPR guidelines for Transfer Bureau. Visit our GDPR & Transfer Bureau web page for further information. It is important to stress that access to such data on our servers is restricted to Director level only.
We trust that you all ensure copies of the information and reports available via our Track Your Cases site are immediately stored on your own servers for audit trail purposes. However, should you require copies of any information relating to cases that are no longer visible on this facility please contact us.