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pension advice please
kamakazi
Posts: 23 Forumite
hi guys and gals..!!!
i've been looking on this site for quite a while and have had a good look around to try and find the answears to some questions i have about pensions but none have gave me what i'm lookig for....so here goes(please be gently with me)
brief history im in a company pension..they changed the plan in jan 2009 and started a new one
now for some reason i didnt merge the 2 (dont know why ...misssed paper work...not offferd or just forgot)
ive got 2 pensions with standard life at the momement (1 has regular monthly payments made into by my employer the 2nd has a lump sum that was paid into it from my employer transfereing from the previuos owners of the company that i had paid .the company is now going to transfere the pension(the one that is regularly paid into to a new pension provider..legal and general assurance if i remember right) in the new year. ive contacted standard life and think i can merge the two with them before its transfered to legal and general
i also have a really old phoenix life pension that was previously brittania that was an opt out of serps ...nothing is paid into this except the national insurance rebate
1) would it be best to merge the 2 / 3 ?
2)would it be worth leaveing the 1 and just transfereing the 2nd one to the new provider ?(my thinking behind this is takeing a lump sum when i retire and haveing a smaller pension from this one or could i take this pension early and still carry on working??
figures available if this would help
thanks for taking the time to read and thanks in advance for the advice!!!
i've been looking on this site for quite a while and have had a good look around to try and find the answears to some questions i have about pensions but none have gave me what i'm lookig for....so here goes(please be gently with me)
brief history im in a company pension..they changed the plan in jan 2009 and started a new one
now for some reason i didnt merge the 2 (dont know why ...misssed paper work...not offferd or just forgot)
ive got 2 pensions with standard life at the momement (1 has regular monthly payments made into by my employer the 2nd has a lump sum that was paid into it from my employer transfereing from the previuos owners of the company that i had paid .the company is now going to transfere the pension(the one that is regularly paid into to a new pension provider..legal and general assurance if i remember right) in the new year. ive contacted standard life and think i can merge the two with them before its transfered to legal and general
i also have a really old phoenix life pension that was previously brittania that was an opt out of serps ...nothing is paid into this except the national insurance rebate
1) would it be best to merge the 2 / 3 ?
2)would it be worth leaveing the 1 and just transfereing the 2nd one to the new provider ?(my thinking behind this is takeing a lump sum when i retire and haveing a smaller pension from this one or could i take this pension early and still carry on working??
figures available if this would help
thanks for taking the time to read and thanks in advance for the advice!!!
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Comments
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You won't be able to get any answers to those questions on here - we don't know enough about the existing schemes or the new Workplace Pension to ascertain what would be in your best interests. Find yourself a local IFA who can review them for you and give you the advice you need..I am an IFA. Any comments made on this forum are provided for information only and should not be construed as advice. Should you need advice on a specific area then please consult a local IFA.0
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This is a very good forum site here you can find lot of things.0
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