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PEP Transfers
By: Victoria Selman
Although you are no longer able to set up a PEP or invest more money in one, it
is possible to transfer an existing PEP to a new fund platform with a better
rate of return than you are currently getting, where you can continue to invest
your money tax free.
This article provides an overview of the PEP transfer process. It also explains
the benefits associated with making PEP transfers and discusses what information
you need to make a PEP transfer.
PEP Transfers
PEP transfers enable you to switch to different investment funds. Transferring
your PEP enables you to get rid of your existing PEP investments and replace
them with new better performing ones, whilst still maintaining your tax free
status.
Advantages of PEP Transfers
• You can choose new PEP funds to invest in that have a better rate of return
than your existing funds
• You can take advantage of new funds that have become available since you set
up your PEP
• You can diversify your investment portfolio
PEP Transfers Process
1. Complete a PEP transfer application form and Letters of Authority for each
fund manager you want to transfer from.
2. Send the completed form and letters to the company you want to transfer your
PEP to.
3. The new PEP company will contact your existing fund companies on your behalf
to tell them that you want to transfer your PEP.
PEP transfers normally take between 4-6 weeks. Please note that your money will
remain invested throughout the duration of the PEP transfers process
What Information Do I Need to Arrange a PEP Transfer
In order to transfer your PEP all you need are details of your existing PEP.
Then contact a PEP transfer company or IFA and they will set up your PEP
transfer for you.
About the Author:
U-Manage specialises in arranging ISA transfers for people looking to diversify
their portfolios and improve the return on their investments For further details
please click here ISA Transferswww.peps-and-isas.co.uk/isa-transfer.htm
or telephone 01489 505 186.
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