I'm considering transferring my personal pension funds to a Sippdeal SIPP and am currently working my way through their application forms.
One terms that confuses me is "In-Specie" transfer. As I understand it this seems to involve a change in fund manager without any liquidisation (i.e. conversion to cash) of the actual funds - and hence no Capital Gains. Is that correct?
That being the case, is such a transfer only possible if the funds my pension currently holds are also available from Sippdeal? In my case (Standard Life & Clerical Medical) the specific funds held by my pension are not available in Sippdeal. Does this mean I would have to go for a cash transfer or would it be better to transfer within my existing pension schemes to funds which are available via Sippdeal?
Thanks for any advice or clarification.