Can i cashi in or sell these odd pensions?

gehngus_2

Hi.
I took out a few pensions many many years ago, stopped paying, forgot about them, opened another and stopped paying and then another.
This was 20 years ago when the world revolved around the woman i was with, and the relationships seemed to last a life time (probably in the region of 1-2 years).
every year since I get a report to tell me that i have paid zero and will get not a lot at all back.
This is accompanied by a list of management fee's that over the 20 years or so must have bitten deep into what little there was.
I did phone up about 10 years ago and ask "cant i just cash it it in? Can i do anything with these"
The answer was.... "you can pay more in, thats your only option"
I have just stumbled across one of them them and thought i would ask you lovely people if times have changed?
I know nothing about pensions, but i would love to know if they have any value at all and if i can get anything at all for them.
the pensions are
1. Phoenix : personal retirement acc.
CV £1327
CTV £992
Personal option plan
CV £4434
CTV as at 04/04/2008 £3950

---

2 . Guardian (i don't think i have had any mail from these since 2003)
as of 2003 units held 331.9
bid price 2.987
value £991 (this could have gone by now with the monthly fee's)

3. Royal Sunalliance (again, i have heard nothing from these since 2003)
CV £932
CTV £579
Personal option plan
CV £2640
CTV £2294

These figures mean nothing to me.
Is there any way to get a bit of money from these?

sdooley

You can transfer them all into a better performing and/or cheaper pension but you can't encash them, until you reach retirement when you can take 25% tax free cash.

Cook_County

You may be able to get 100% if the total of all pension funds is trivial & you are old enough!

gehngus_2

I would prefer to get something for them now, but doubt im old enough to qualify at 43.

If this is the case, how would i transfer them?

Many thanks.

dunstonh

If this is the case, how would i transfer them?

Ask the new pension provider for a transfer application and get discharge forms from the old providers.

EdInvestor

"CV" stands for current value
"CTV" stands for transfer value.

The difference between the two figures is the penalty you will have to pay to move the money out.In some cases it's quite large although the overall amounts are low.

How would you invest the money in these pensions if you moved them? Would you go for funds (if so, unit trusts or investment trusts), shares, property funds, cash?

Pick your investment style and you can then pick your pension provider. Then it's a case of opeining the new account, and sending off transfer forms to the old companies. Going forward you should monitor the new account as you would with any investment.