Pension Equalisation

chirpchirp

I am in the lucky position of gaining half my ex's pension. I could keep my half with his pension provider or I could transfer it out.

I had a thought today about whether I could transfer the money into my own pension but as it's a final salary I'm guessing not. However, my pension does accept AVC payments and I'm wondering if it is possible and whether I would lose money if the money was transferred as AVC contributions.

Are there any questions other than the above that you think I should be asking my IFA. My fiancial advisor just seems to need chasing alot and I haven't got time to keep chasing him at the moment.

Debt_Free_Chick

chirpchirp wrote: »

I am in the lucky position of gaining half my ex's pension. I could keep my half with his pension provider or I could transfer it out.

I had a thought today about whether I could transfer the money into my own pension but as it's a final salary I'm guessing not.

you need to ask the administrators if transfers in are accepted or not. Most schemes do not allow them these days.

However, my pension does accept AVC payments and I'm wondering if it is possible and whether I would lose money if the money was transferred as AVC contributions.

But the amount is not an AVC. An AVC is a contribution you make from your own funds - not an amount transferred from another pension plan.

Are there any questions other than the above that you think I should be asking my IFA. My fiancial advisor just seems to need chasing alot and I haven't got time to keep chasing him at the moment.

Where are you at? Has your IFA recommended a pension plan for you to transfer to, produced an illustration and compared this with the option of leaving it where it is?

chirpchirp

I'd forgotten about this post - thanks for your help.

I seem to be chasing my IFA alot. I'm getting more and more disheartened with him he seems to take forever to get back to me and most of the time I have never received the emails he says he has sent, despite checking my Spam box.

I'm waiting for my IFA to produce illustrations at the moment but I believe he has had a few problems gaining the information from the original pension scheme.