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Can I combine small pensions?
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catford
Posts: 1,114 Forumite
I have 3 small pensions ( 2 from S/Life and 1 from siemens ) paid to me after taking the tax free sum from each ,but the amounts are small.
Is it possible to combine all 3 into one pension fund ( maybe a new one ) and get just one payment each month?:D
Or alternatively, can I cash them in because they are so small??;)
Is it possible to combine all 3 into one pension fund ( maybe a new one ) and get just one payment each month?:D
Or alternatively, can I cash them in because they are so small??;)
0
Comments
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You should combine them before you take them (you would have got a better rate as well probably). However, its too late now.
Technically, post A day (6th April 06) rules allow you to transfer annuities but in reality very few schemes enable that option and those that do tend to only do it with their latest versions.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
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