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I've moved on to pensions
Lawrah26
Posts: 12 Forumite
Hi all, thought I'd start a new thread, this may have already been brought up previously though.
After researching a lot of money tips etc on here, I have now moved on to pensions... I started my current job in March 2008 (am currently 27yrs old) and also started the pension scheme with them. After about a year I decided to quite the pension scheme - although not really knowing that much about it. I obviously couldn't claim the money back due to the length of time (can claim back within 3 months of starting). So I have this approx. £1000 in a pension sitting somewhere... I know I can transfer it or restart the pension (I think).
I had just started reading about Sipps here.
I guess my question is, does anyone have any good advice or tips for this situation. Is it possible I could lose this money that's sitting somewhere if I continue to just leave it!? Will it still even be there now!?
Thanks
L
After researching a lot of money tips etc on here, I have now moved on to pensions... I started my current job in March 2008 (am currently 27yrs old) and also started the pension scheme with them. After about a year I decided to quite the pension scheme - although not really knowing that much about it. I obviously couldn't claim the money back due to the length of time (can claim back within 3 months of starting). So I have this approx. £1000 in a pension sitting somewhere... I know I can transfer it or restart the pension (I think).
I had just started reading about Sipps here.
I guess my question is, does anyone have any good advice or tips for this situation. Is it possible I could lose this money that's sitting somewhere if I continue to just leave it!? Will it still even be there now!?
Thanks
L
06/10 - £2000 of £6000 saved :j
0
Comments
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1 - Forget about SIPPs. They are for experienced investors.does anyone have any good advice or tips for this situation.
2 - Find out about the works scheme. What it offers, if there are employer contributions, the charges and the investment options.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 -
Why did you quit? What kind of scheme is it - defined benefit or defined contribution?0
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I think I need to look back on what I had before - I really know so little about pensions right now. Thank you for your responses, will be back on this soon06/10 - £2000 of £6000 saved :j0
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If your employer contributes to a plan, it doesn't matter what type of scheme it is - it's free money (although you may have to contribute a little bit yourself)!0
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