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Refund of contributions or can I put them somewhere?
Gobbledegeek
Posts: 10 Forumite
My daughter is 21. She has recently finished work at Asda and become a full time student. She joined the Asda pension scheme while she was there and has been offered £98.70 as a refund of contributions or a transfer value of £375.63.
Is there anywhere she could put the £375.63 where it won't be eaten up by charges? She won't be in a position to add to this for at least another two years. I have looked at low cost SIPPs but these all seem to levy annual fees - for example, Alliance charges £80 a year and at that rate the fund would soon disappear.
Is there anywhere she could put the £375.63 where it won't be eaten up by charges? She won't be in a position to add to this for at least another two years. I have looked at low cost SIPPs but these all seem to levy annual fees - for example, Alliance charges £80 a year and at that rate the fund would soon disappear.
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I have looked at low cost SIPPs but these all seem to levy annual fees - for example, Alliance charges £80 a year and at that rate the fund would soon disappear.
Low cost SIPPs are not low cost. That is just their marketing. Some people fall for it. Stakeholder is the logical option here and jem has given you a good link.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 -
Stakeholder through Cavendish would seem to fit the bill. Thank you.0
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