Pep Transfers
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.
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 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 takes between 4-6 weeks and your
money remains invested throughout this 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.