transfer of pension

scandie

Hi, I am new to this so I hope I am doing it correctly??!!!I have a frozen private pension which I paid into for about 14 years with my previous employer (made redundant). I have the option of transfering to another pension company which I would like to do but do not know where to start. I am not working yet so at the moment not paying anything more into it, but as soon as I transfer it somewhere else I would like to start paying into it again. Can anyone give me any advice please???

dunstonh

I have the option of transfering to another pension company which I would like to do but do not know where to start.

You need to know what type of pension you have. You also need to know the details of the pension you want to put it into (or other pensions available). Then you need to analyse the options (costs, benefits etc) and see which comes out best.

Can anyone give me any advice please???

Any local IFA can do this. If it is a defined benefit scheme then look for an IFA with further pension qualifications. You will need to use an IFA if it is a defined benefit scheme as very few allow DIY transfers from that type of scheme.