What can I do with my other pension

Hellie51

10 years ago I started a personal pension with HSBC bank. I paid into it for about 4 years until I joined the Fire Service. I was advised not to sell my HSBC pension into the Fire Service one as it would amount to nothing and also as I can complete full service then I shall be eligible for a full pension from them.

The pension has £2000 in it which shall amount to about £100 per year when I retire, ie not much. Are there any options for this money, I would like it now, I'm 33 years old, I know i can't cash it in. Can I sell it to someone elses pension?

dunstonh

Can I sell it to someone elses pension?

Why would somoene want to buy your pension? Ignoring the fact it is £2000 and is worth £2000, nothing more, nothing less, there is no benefit to an individual buying a pension plan that only you or your spouse can benefit from.

As it stands it is a £2000 investment in a tax free wrapper. If you dont think its up to much then why not invest it higher risk and take a punt? Even if you dont go to that level, it would provide £100 a year now but with 34 years to go to retirement, it could easily be closer to £500-£1000 a year in retirement, back to around 400-500 in real terms. Dont knock any income in retirement no matter how small. Even your full service in the fire service will see you with a pay cut on retirement.