Pension Transfer Good Idea?

Awaywiththefairies_2

Hello,

At the moment I am paying into an occupational money purchase scheme and so is my employer. I am also paying into a private stakeholder pension which I started before I was eligible for the work pension. At the end of August I will be leaving the company and will not be able to carry on paying into the occupational pension. I will have been in the scheme for over two years and so will be able to either leave the money there until I retire or to transfer it out. As I won't be getting another employer pension scheme for at least 4 years I was wondering if anyone had any views on whether I should leave it invested in the company pension or whether I should transfer it to my stakeholder. (I will still contribute to the personal)

The advantages for keeping them seperate I can see are different funds available, better choice of investment. There might be lower fund charges on the occupational scheme than the personal and there might be a transfer charge?

I would appreciate anyones thoughts on this.

Thanks

dunstonh

The advantages for keeping them seperate I can see are different funds available, better choice of investment. There might be lower fund charges on the occupational scheme than the personal and there might be a transfer charge?

They are the key points really. Although the other option is a new plan altogether that could be better than both of your plans.

Awaywiththefairies_2

dunstonh wrote: »

They are the key points really. Although the other option is a new plan altogether that could be better than both of your plans.

Thanks for your reply, have you any suggestions for the new plan?