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UK pension plan - end of price cap
Yorky1
Posts: 111 Forumite
This is for someone who opted out of SERPS ( State Earnings Related Pension Scheme) when working in the UK.
There was a charge cap of 1% on the plan, in line with Stakeholder pensions, but this is being removed on 31st July 2012.
The plan was contributed to for about seven years and has had no further contributions for the last fifteen years.
Can anyone advise what to do with the pension plan?
Thanks in advance.
There was a charge cap of 1% on the plan, in line with Stakeholder pensions, but this is being removed on 31st July 2012.
The plan was contributed to for about seven years and has had no further contributions for the last fifteen years.
Can anyone advise what to do with the pension plan?
Thanks in advance.
0
Comments
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There was a charge cap of 1% on the plan, in line with Stakeholder pensions, but this is being removed on 31st July 2012.
Legal & General by any chance?Can anyone advise what to do with the pension plan?
Get a local IFA to analyse it and compare it to modern options. If the old plan is still best, it gets left there. If a new one is better, it can then be transferred.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 -
Yes Legal & General. I'm now based outside the UK and the fund value is about £5500 so I don't know if it's feasible / viable to get advice.0
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Probably just as easy to leave it with L&G.
The terms are only going back to what they were when you started. In most cases, there is very little difference unless it is a very old plan you are still paying into.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 -
Thanks. The plan was started in 19890
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