Transferring a v small company pension to HL

cashbackproblems

Hi guys

I paid 6 months into a company pension last year before leaving the firm and i have been advised that have a few weeks to transfer it otherwise they will send me a refund. It is a final occupation pension scheme and total £1080 (they will only refund me £300).

So i spoke to HL and they said i can either open a SIPP (i already have vantage with them) or a Stakeholder pension with Aviva/SL.

Im thinking the SIPP will be the best as the only charges are AMC

Also i have a new company pension so wont be paying into this for a few yrs, so just need to leave it in there.

Would the sipp be best and which fund?

Thanks

dunstonh

Im thinking the SIPP will be the best as the only charges are AMC

If you are looking at a SIPP then it isnt the AMC that matters but the TER. That is the one comparable to pension fund AMCs.

Would the sipp be best and which fund?

A SIPP for £1080 would likely end up as a mis-sale in most cases if it was advice. You are probably better with stakeholder with that small amount.

soperman

As I have stated on another thread this kind of advice is difficult to dispense on this board as it is so subjective. However, you have an existing relationship with HL and they will be very well qualified to help and advise you.

You will only be subject to an AMC under a Stakeholder Plan too.

jem16

cashbackproblems wrote: »

It is a final occupation pension scheme and total £1080 (they will only refund me £300).

Do you mean final salary occupational pension?

I know it's only £1080 and probably sounds silly, but it normally requires an IFA to sign off a final salary transfer even though in this case you have no choice but to transfer.

Are HL happy to accept the transfer without an IFA signing it off?