Equitable Life Pension. What should I do?

barryd999

I became self employed 11 years ago. For quite a few years, I and my employers paid into an Equitable Life pension scheme. I have not contributed to it since 2001. Last time I checked there was about £30K sat in there. My wife also has a few thousand with them from the late 90's.

I have no pension scheme but do have other investements. What should I do with this pension at Equitable Life? Looking at the sticky it appears you cant cash these in and I think I cant start receiving income from it until Im 55. I am currently 46.

I know they have had all sorts of problems and have lost a lot of money and are currently paying out compensation to some (not sure if that includes me).

So. What should I do with it? What are the options?

Thanks

zygurat789

First of all is it a Guaranteed Anuity Rate policy. If so it could be a good thing and worth staying with.
If not you can still stay with it for the 3% pa growth rate or transfer the fund to another company you think might perform better.
Does you wife still work, is she in the public sector, does she have a pension there?