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What to do with small private pensions
Comments
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Oh great, now I fancy a bacon butty!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Thanks for all the comments...
So back to my original question...dose anyone have advice on the best course of action for me would be to get the most out of it in 4 years time ?.
I had a chat with our company pension ad-visor and it wouldn't be possible to transfer them into my company one (for lots of reasons which i cant go into on here)
As i've said they are not critical to my future retirement so would be happy to perhaps try something with much more risk but potential gain ?.....probably to late now I except and will have to be happy with the estimated £12 a week (ish) pension from the £50k.
Shame the tax man cant take his share back and give me whats left in one lump..call it quits on this one...ah well.0 -
Pete_Somerset wrote: »I except and will have to be happy with the estimated £12 a week (ish) pension from the £50k.
How do you calculate that?
From £50k you can get £12.5k back straight away cash free, and the remaining pot will give £36 per week assuming a 5% drawdown/annuity.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
first of all, if those pensions aren't doing well, it wont be the managment charge (or at least not all due to that). It will be that what it is invested in was/iss a poor choice.
Review the investments they are in, and the other options available. Then look at the charges.
Compare these to a new PP you can find on the market (ie charges and fund/invstments available) then choose which is the better path. Ie leave and change invesments, or move.0
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