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Old Mutual Wealth
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Why do my clients have more than one Collective Retirement Account (CRA)?

  • September 09, 2020 07:26

We are making it easier for you to manage uncrystallised and crystallised assets separately. To do this your client’s CRA will be split into uncrystallised and crystallised sub accounts with different account numbers. In some instances, such as if your client has transferred assets from another provider to us, they may be given more than one crystallised account, meaning your client could have three or more accounts within their pension. You can manage these separately or choose to merge the crystallised accounts.

If your client’s CRA holds both uncrystallised and crystallised money, when they log in to our online services, or look at their statement, they’ll see their CRA as two or more separate accounts. They’ll be able to see the value and asset selection for each account separately. In some scenarios, for example if your client has fully crystallised their entire pension or are using our tax-efficient regular income facility, then one of these accounts may show a zero value; this is because their other assets are safely held in their other accounts. For more information please see our CRA webpage.

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Answers in this section

  • How do I transfer money from an ISA, CIA or CIB to a CRA?
  • Will my clients income payments continue as normal?
  • Will my clients be given new account numbers?
  • Will my clients’ regular investments continue as normal after migration?
  • Why do my clients have more than one Collective Retirement Account (CRA)?
  • Will my clients see the names of my model portfolios on their documents?
  • Can I change the dates my clients pay their regular investments?
  • Can I change the dates my clients are paid their income?
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