Company Pension & Redundancy - Need Help

Macca86

Hi, got a bit of a situation and have not got a clue where to start. I'm 23 and started my company pension last year. However, I was made redundant back in August and was told I have 2 options, take the cash at a considerably reduced level or move to a new pension.

The date for changing is fast approaching and I have returned to university, so cannot change to another company pension. Would I be able to change pensions to a separate company, such as the Pru or the Co-op to avoid losing quite a large amount of money (over £1000) and if so, would I have to pay into them to keep it 'ticking over' until I find employment later in the year? Many thanks in advance for any help.

yelf

what sort of pension was it? you can tranbsfer it to any pension provider and wont have to pay into it.

Macca86

It was a company pension where both myself and the company contributed to it each month.

That's good news, will look further into pensions now, thanks.