please can anyone help with pension advise

shellyd_3

I must admit I don’t know anything about pensions; I am 44 and left BT 15 years ago when I had my first child. I had worked for them for 13 years.

Today I received a letter from accenture, and from what I can make out it could have trouble paying out pensions in the long term.

Would anyone be able to advise me if I should just leave the pension or transfer it (if Possible) to somewhere else? I don’t have any other pension as I can’t afford to pay into one. My husband has a personal Pension with prudential, but again I don’t think we are paying enough into it. (3 kids and one wage!).

I would be grateful for any advice.


Thank-you

Shelly

Debt_Free_Chick

shellyd wrote:

Today I received a letter from accenture, and from what I can make out it could have trouble paying out pensions in the long term.

Most pension schemes are probably making similar statements at the moment.

Can you tell us a little more about what it says? What does BT intend to do?

shellyd_3

Sorry for the delay, the letter states that BT are bailing the scheme out at the moment.

Shelly

EdInvestor

I wouldn't worry about this pension - BT has come to an arrangment to resolve the deficit. It might be good to get a forecast as to how much you can expect when you retire though,just so as you know, why not drop them a line? Pensions like these get increased to cover inflation every year.

You might like to check up on your state pensions too, since you're on the case, make sure they're giving you Home Responsibility Credits etc.

https://www.thepensionservice.gov.uk

The min number of years to get the max state pension is coming down to 30 from 2010, so that should help