paid up hill samuel private income plan..wot to do with it
kip_cordelia_40
Posts: 25 Forumite
Hello
could anyone suggest what to do with the above pension . I started it in 1991 and stopped contributions in 1997 as I was off having my son. Contributions were £20.00!! On returning to work approx 1996 I joined my companys pension (it is a good scheme in a utility company) and carried on paying 6% until returning to uni 2003. I am now a member of the nhs pension but am unsure what to do with the Hill Samuel pension.
Can I cash it in as 3 years on little income nearly floored me. I am lucky as I have no mortgage /rent and would like cash to clear a credit card or do I have to leave it festering??
any ideas gratefully received and yes I probably should have done this years ago!
could anyone suggest what to do with the above pension . I started it in 1991 and stopped contributions in 1997 as I was off having my son. Contributions were £20.00!! On returning to work approx 1996 I joined my companys pension (it is a good scheme in a utility company) and carried on paying 6% until returning to uni 2003. I am now a member of the nhs pension but am unsure what to do with the Hill Samuel pension.
Can I cash it in as 3 years on little income nearly floored me. I am lucky as I have no mortgage /rent and would like cash to clear a credit card or do I have to leave it festering??
any ideas gratefully received and yes I probably should have done this years ago!
0
Comments
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Can I cash it in
no.do I have to leave it festering??
No. You leave it invested and that may be where it is or transfer it to a modern plan which may be cheaper (or may not be) and offer a greater investment chocie.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
thanks for that...I will put the paperwork back in the filing cabinet
:beer:0
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