pension fund to transfer out

challenge_2

Hi guys,

I have sold my fidelity unit trust pension into cash recently and the cash is still with fidelity.
And the provider is Bestinvest.
I would like to transfer the cash into 2 banks cash pension.
First question I would like to know if I can transfer out from fidelity. Bestinvest is the provider.
Second question I would like a suggestion which banks are best to deposit the cash pension. Many thanks for your opinions.

dunstonh

There is usually nothing to stop you transferring pensions to another pension.

Second question I would like a suggestion which banks are best to deposit the cash pension.

That would depend on what the pension provider you are transferring to allows within their contract.

atush

I'd like to ask why cash, but there you go.

jamesd

Relatively few pensions offer a wide range of cash deposit accounts so you'll need to find a fairly specialised one that probably comes with quite high costs if you want to do that and get a decent interest rate. More common is availability of money market funds that are very close to cash in performance and risk, with about as close as you can get to a guarantee that the capital value will not drop except due to inflation.