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  • FIRST POST
    • Pegasus3245
    • By Pegasus3245 12th Oct 17, 10:58 AM
    • 2Posts
    • 0Thanks
    Pegasus3245
    Pension
    • #1
    • 12th Oct 17, 10:58 AM
    Pension 12th Oct 17 at 10:58 AM
    I have some old past pensions, because of the small amounts in them I have transferred them all into my current pension provider so its easier to manage and control investment.

    However; I have a small pension with 'The Peoples Pension', the value of it is about £120 and was just a single contribution from an old employment.

    I am unable to transfer this, my current policy is with Aviva and they will only accept a pension transfer which is greater than £500.

    I know many people would be reluctant to give out pension advice, but this isnt what I am after - its just annoying that I have £100 sat there doing nothing which I cant touch for the next 30 years.

    Is there any way of taking out this money, or even any way of cancelling the policy and transferring it to a charity - simply put I just don't see the point in having it at all.

    Thanks,
    Scott.
Page 1
    • dunstonh
    • By dunstonh 12th Oct 17, 11:12 AM
    • 89,841 Posts
    • 55,432 Thanks
    dunstonh
    • #2
    • 12th Oct 17, 11:12 AM
    • #2
    • 12th Oct 17, 11:12 AM
    its just annoying that I have £100 sat there doing nothing
    It will not be sat there doing nothing. It will be subject to investment returns.

    I am unable to transfer this, my current policy is with Aviva and they will only accept a pension transfer which is greater than £500.
    Are you sure? Normally, it is the total amount of the transfers in that matters. Not individual amounts. Although, if you have already done the others, that would be too late.

    Is there any way of taking out this money, or even any way of cancelling the policy and transferring it to a charity
    No
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • Lokolo
    • By Lokolo 12th Oct 17, 11:14 AM
    • 19,768 Posts
    • 14,772 Thanks
    Lokolo
    • #3
    • 12th Oct 17, 11:14 AM
    • #3
    • 12th Oct 17, 11:14 AM
    Top it up by £400 then transfer it?
    • IanManc
    • By IanManc 12th Oct 17, 11:16 AM
    • 318 Posts
    • 447 Thanks
    IanManc
    • #4
    • 12th Oct 17, 11:16 AM
    • #4
    • 12th Oct 17, 11:16 AM
    I have some old past pensions, because of the small amounts in them I have transferred them all into my current pension provider so its easier to manage and control investment.

    However; I have a small pension with 'The Peoples Pension', the value of it is about £120 and was just a single contribution from an old employment.

    I am unable to transfer this, my current policy is with Aviva and they will only accept a pension transfer which is greater than £500.

    I know many people would be reluctant to give out pension advice, but this isnt what I am after - its just annoying that I have £100 sat there doing nothing which I cant touch for the next 30 years.

    Is there any way of taking out this money, or even any way of cancelling the policy and transferring it to a charity - simply put I just don't see the point in having it at all.

    Thanks,
    Scott.
    Originally posted by Pegasus3245
    I may be being a bit naïve, but couldn't you contribute another £381 to it - making it greater than £500 - and then transfer it to Aviva?
    • Mnd
    • By Mnd 12th Oct 17, 11:43 AM
    • 150 Posts
    • 163 Thanks
    Mnd
    • #5
    • 12th Oct 17, 11:43 AM
    • #5
    • 12th Oct 17, 11:43 AM
    That's what I would do, either that or book a table for your 55th and use this cash��
    Last edited by Mnd; 12-10-2017 at 11:44 AM. Reason: Spelling
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