Selling pension scheme

rnspark

I have a frozen pension scheme originally by Allied Dunbar coming to completion. Zurich now have my scheme after buying out Allied Dunbar. Zurich are offering a lump sum through Prudential, do I have to take this or is there a way to negotiate selling this to the highest bidder on the open market
Thank You

dunstonh

Zurich are offering a lump sum through Prudential, do I have to take this or is there a way to negotiate selling this to the highest bidder on the open market

You can do an open market option to purchase the annuity through another provider or you can leave the pension invested with Zurich or transfer to another pension provider to leave invested with them or consider other pension income options, such as unsecured pensions.

However, unless the total of all your pensions are less than £16,500 and you are aged over 60 then there is no way to access this capital beyond the normal 25%.