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With Profits Pension vs Stake Holder Pension
mollyandmeg
Posts: 4 Newbie
I have just been awarded £16,207.00 for a loss assesment calculation for my pension plan with Legal and General. They have said that the funds could go into my existing Personal Pension Scheme with them which is a Formally Protected Rights Benefit. This only has a fund value of £2,836. How does it affect me now that its not protected. They have said I can put the money into a Stake Holder pension if I want, would this be a better option? are the annual fees lower?
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With Profits Pension vs Stake Holder Pension
There is no such thing as a with profits pension. With Profits is a fund that can be present on retirement annuity contracts, s32 buy out bonds, personal pensions and stakeholder pensions.How does it affect me now that its not protected.
Dont worry about. All protected rights were reclassifed as non-protected rights in April 2012.They have said I can put the money into a Stake Holder pension if I want, would this be a better option? are the annual fees lower?
they could be higher or lower. We cant tell without doing an analysis.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 -
So how do I find out, who can do the analysis?0
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mollyandmeg wrote: »So how do I find out, who can do the analysis?
Any local IFA would have the software to do the analysis if you are unable to do it yourself.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
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