Help and advice please.

gromitt_2

I'm 65, retired and in receipt of State Pension and an Army pension of £796pm. I have two, small, unclaimed private pension funds of £1200 each. What can I do with these two private (Zurich and Prudential) funds? Is it best to combine them, or take them separately, or can I include both of them in my Army pension?

srcandas

gromitt wrote: »

I'm 65, retired and in receipt of State Pension and an Army pension of £796pm. I have two, small, unclaimed private pension funds of £1200 each. What can I do with these two private (Zurich and Prs there any udential) funds? Is it best to combine them, or take them separately, or can I include both of them in my Army pension?

You may have done this already but just in case call them both and ask:

Is there any terminal bonus?
Is there any guaranteed annuity rate?
What is the transfer value and is it different from the fund value?

I'd expect you'll get few surprises but always ask. I called Scottish Widows on a tiddler and was surprised when they said it had a guaranteed annuity Rate (GAR) of 9.8%. I know the amounts are small but every little helps.

Then I'd wait till the experts here come along with what to do. love the tag; he's my favourite dog

molerat

You may also be able to take them as cash, 25% tax free and 75% taxed, under the stranded pots regs that come into force in the 2012 FY. You will need to speak to the providers though.