Yes you can. When you follow the prompt to find your existing pensions you can choose to transfer a SIPP.
Follow up to this… I had no issues. PensionBee took a while to transfer and then it took 6 or 7 business days after I got the email from PensionBee confirming the switch, before it showed up in Monzo. But the full amount was there, and now I just need to wait for my last company to catch up on their pension payments and I will request the switch for that too!
I wonder how many people pensionbee have lost to Monzo
I’m still with Pensionbee. Not being able to continuously invest in a Monzo pension is pointless.
I tried to transfer in this morning and now getting the not eligible message despite being eligible before.
Hopefully not many. Nowhere near the same product proposition.
Ive moved my Nest pension over with minimal fuss.
Wait wait - you cannot invest in it?
Not at the moment and not sure when.
Nope, you can’t add money yet, you can just transfer in from elsewhere.
So I put in a complaint 7 weeks and 6 days ago about how my pension transfer went, today I’ve received an email what I thought would be Monzo responding to the complaint but instead it’s an email acknowledging receipt of my complaint - going from bad to worse. Am I right in thinking after 8 weeks I can go direct to FOS?
That’s correct, once it hits 8 weeks/56 days from you logging the complaint (not from when they bother to retrieve it) you can refer to the ombudsman service.
Very poor show on Monzo part.
No you can take it to the ombudsman whenever from as soon as you log your complaint as long as it’s within 6 months of Monzo responding to it.
8 weeks is the time limit banks have to formally respond to your complaint. If Monzo don’t by tomorrow, make that apart of your complaint with the ombudsman. They’ll get into trouble for it.
I suspect (or hope) the acknowledgement is in error and they were meant to instead send their response!
Yes - you can lodge a complaint with FOS if Monzo don’t reply. It’s here for reference:
Hi, I’ve been provided a form to complete from a current provider but the details they are asking aren’t available on the app such as Receiving plans bank, account, sort code etc.
None of the help articles have this, so how do I get additional help?
I had this (Willis towers Watson by any chance?).
For me I completed the forms that required my information and then scanned it and shared it with the Monzo pensions team to complete their sections and then send back over to the provider.
Raise a chat request to the pensions team (if you go through the pensions section there’s a link to chat somewhere in the bit where it says has your current provider contacted you I think).
I found the Monzo pensions team super helpful it’s just so frustrating how slow Willis towers Watson is with their processes!
Thanks Andy. It is WTW
I’ve been looking to raise a chat somewhere but I was struggling to find it.
I’ve now raised a chat with Monzo, thanks for the help Andy
Lol, of course it’s WTW !
I’m still not complete with my transfer but it is moving along (slowly). WTW even arranged a call with me to make sure I wasn’t being scammed (the guy was really pleasant knowledgeable and said it was all completely fine but they had to do various steps including that call to make sure they were complying with all the rules they must follow).
I’ve done pension transfers with other providers in a matter of weeks but WTW is something else.
Good luck and I plan to come back onto this thread when my pension has been wrestled away from the clutches of WTW lol
Good luck, Sir! Took me 9months to wrestle my pension away from WTW!