Transfer existing pension or get new one?

suki43

Hi there,

I am 34 and had a Group Personal Pension with a previous employer which is now £6000 as I chose to contract out. As I am the only employee in my work, I do not get a company pension. I have not contributed to my pension since the end of 2005 when I left my employment. I am now looking to start making contributions. What I would like advice on, is should I start a new Stakeholder pension and transfer the above lump sum, or should I convert my plan to a personal one and continue to contribute in the same one?

Many thanks

dunstonh

What I would like advice on, is should I start a new Stakeholder pension and transfer the above lump sum, or should I convert my plan to a personal one and continue to contribute in the same one?

Which is the best option for you?

We would need to know the facts about the existing plan, what alternatives you wish to consider (including distribution channel you would use - i.e. buying direct, using an IFA etc), amounts and timescale to really give a indication of which is best.