Transfer Into Local Govt Pension?

10_to_3

I have recently started working for a London Borough. I am paying in to their pension scheme. I have a couple of years contributions to a stakeholder pension. I also have a little bit put away in an equity ISA as I was a little wary of committing all my spare cash to a pension.

I have the opportunity to transfer my stakeholder pension into the local government scheme. I imagine that the local government pension would be a better bet. The local govt people will analyse my stakeholder and comment on whether it makes sense to transfer it.

However I am tempted to cash in some of the ISA and add the maximum permitted amount to my stakeholder and bung the lot into the local govt scheme.

I am going to discuss matters with the local govt people but I would really appreciate some third party comments on whether it makes sense to cash in the ISA and transfer it into the stakeholder and then into the local govt scheme. One problem is that if I transfer it into the stakeholder and then don't transfer to local govt scheme the money is stuck in the stakeholder, something I didn't want to do.

Has anyone any ideas or opinion?

Thanks,
Davey

dunstonh

I imagine that the local government pension would be a better bet.

Depends on the number of years they will give you for it.

The local govt people will analyse my stakeholder and comment on whether it makes sense to transfer it.

Thats very unusual. Occupational pension scheme workers are not usually allowed to give advice.

Has anyone any ideas or opinion?

Not much we can say until we know what they are going to offer.

10_to_3

Thanks for the response, I'll have to ask a few more questions at work before I make any decision.