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Frozen Pension can it be transferred to an isa
Pheonix1483
Posts: 1 Newbie
Hi
My husband has a frozen pension with originally with National Westminster but has now been moved to Aviva. It is now worth less than he paid in before he had to freeze it. Is there anyway of getting the money out and transferring it to an isa. He is 57 years old and we no longer live in the UK. Is there anything we can do?
My husband has a frozen pension with originally with National Westminster but has now been moved to Aviva. It is now worth less than he paid in before he had to freeze it. Is there anyway of getting the money out and transferring it to an isa. He is 57 years old and we no longer live in the UK. Is there anything we can do?
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Comments
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Is there anyway of getting the money out and transferring it to an isa.
No.
it wont be frozen. It will be paid up. It is still subject to investment returns based on the investments your husband has chosen.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 -
He can probably transfer it to any other personal pension he has if he wants more investment options or better service or maybe lower costs. It's up to him to choose the investments that are used.
However, as you're no longer UK resident, have you considered transferring to a QROPS instead of a UK pension? These transfers to an overseas scheme aren't inexpensive but can be best if the value is at least a few tens of thousands and there's a need for income in some currency other than Pounds.0 -
you've answered your own question - isas are for uk residents only (or working for th crown abroad).Pheonix1483 wrote: »Hi
......we no longer live in the UK.
fj0
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