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Leaving UK - what to do with pension fund?
u01jet4
Posts: 338 Forumite
Hi,
I am going to be leaving the UK for a year (at least) to teach English in South Korea and have received a letter from my previous job here giving me the option either to withdraw or transfer my pension. As I am not moving to a new UK company I have nowhere to move the pension to.
It is not a huge amount by any means but the refund I would get is less than 1/10 what it is worth with the employer contributions.
Someone suggested opening a stakeholder pension and putting those details down for the transfer. Will I be able to move that to a company one on my return?
Can anyone help me with suggestions as to what to do?
Thanks, Jen.
I am going to be leaving the UK for a year (at least) to teach English in South Korea and have received a letter from my previous job here giving me the option either to withdraw or transfer my pension. As I am not moving to a new UK company I have nowhere to move the pension to.
It is not a huge amount by any means but the refund I would get is less than 1/10 what it is worth with the employer contributions.
Someone suggested opening a stakeholder pension and putting those details down for the transfer. Will I be able to move that to a company one on my return?
Can anyone help me with suggestions as to what to do?
Thanks, Jen.
0
Comments
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For an easy process have a word with Hargreaves Lansdown. Not stakeholder but they are hassle-free and that's probably best for you for now with a one year plan.0
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