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Pension Transfer Bond Maturing - advice please
Kerry_o'keefe
Posts: 181 Forumite
When I no longer believed I would return to NHS I transferred out my first 8 years Was aware of risks etc etc. That was a long time ago. This transfer bond matures in 2 years time (age 55). Current value are Pension fund £20615. What are my options at maturity - do not need pension yet. Invest with Hargreaves - Lansdown and they are always pushing SIPP's?? And advice greatly appreciated.
Dave
Dave
0
Comments
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This transfer bond matures in 2 years time (age 55).
Are you sure it matures at 55? Or is that 55 is just the earliest age you can commence benefits if you wish to?What are my options at maturity
Depends on whether it is an actual maturity or just a selected retirement age and the terms that apply to the section 32 buy out bond. Some can happily rollover up to 75. Others need to be taken as they get no benefit after the selected age. Some can be transferred to something better.Invest with Hargreaves - Lansdown and they are always pushing SIPP's??
That is because they sell SIPPs. You never should take any real notice of what a product provider tries to promote as they will always indicate what they do is best.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 -
Many thanks dunstonh. Unsure of 'maturity date' definition and if I definitely have to take it when I am 55 Think I will contact Canada Life and discuss with them first0
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Kerry_o'keefe wrote: »Many thanks dunstonh. Unsure of 'maturity date' definition and if I definitely have to take it when I am 55 Think I will contact Canada Life and discuss with them first
Contact loads of providers & get quotes.
Enter your details here to get a rough idea.. this provides quotes from 5 major providers
http://pluto.moneyadviceservice.org.uk/annuities0
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