Why on earth transferring a standard pension pot worse than applying for a mortgage?
I have £9,000 sat in a fidelity pension pot I'm trying to move to my current provider as I have had 5 jobs since uni now and pensions are getting messy.
I have received a letter asking from Fidelity asking for the following to proceed with the transfer:
A letter from my current employer with my dates of employment and when I entrolled on my current scheme.
3 months bank statements showing salary payments for current employer.
To fill in a 20 page form with all sorts of nonsense.
A copy of my latest pension statement from my current provider.
Copies of my payslips for last 3 months.
Proof of attendance of a "Pension Wise" appointment.
I mean honestly what the actual fudge? Both pensions are standard pots i.e. defined contribution where I have put in some money and my employer some money each month.
I already had to provide a lot of evidence when applying to start the transfer such as my account numbers, national insurance number and identification.
And the government wonders why people don't transfer pension pots! This is similar to when I applied for a mortgage. Is this normal?