Need to tidy up my pensions

felixdahousecat_2

Hello all

At the ripe old age of 40 I feel I need to tidy up my pension situation, apologies if these are frequent questions so please bear with me....

1.I served in the armed forces for 10 years, but have moved several times since, does anyone know who I contact to let them know who/where I am, and when does this become active ? I've scoured the MOD website without much success. Also where does my family stand if I die before I am eligible for payment?

2. I had a pension from a cable company for about three years ten years ago, again lost all paperwork, I have filled in the enquiry form from the pensions service. Anything else I should/could do ?

3. I have a pension with my current employer of 6 years, I'm paying ~ £180.00 per month to the main fund and about £20.00 AVC, is the AVC worth paying ?

Last question, should I leave them all rumbling along individually and see what happens come retirement, or should I be doing something else ? I will hopefully be with my current employer until I retire but who knows.

Many Thanks

EdInvestor

Have you applied for a state pensions forecast?

AVC money might be better diverted into an ISA for extra flexibility. If you already have a load of taxable pensions, maximising tax free retirement income sources like ISAs may be a better strategy, particularly if you are a basic rate taxpayer.

AVCs are particular inflexible as they can only be taken at the same time as the company pension they are attached to.If additional pension saving is wanted, a Sipp or personal pension is preferred these days.

jonathon_hart

felixdahousecat wrote:

Hello all

3. I have a pension with my current employer of 6 years, I'm paying ~ £180.00 per month to the main fund and about £20.00 AVC, is the AVC worth paying ?

Does the company give any sort of top up or match to your AVCs?

Thanks

Jonathon