4 Company Pensions - what to do?

almacmil

Dear All,

Because of job moves and redundancies, I have four pension policies (three of which haven't had any money paind in for some years). I now have to decide which of these I should start paying into (or start a different scheme). I'm looking at joining an American company as their sole representative in the UK- no admin or office here. They'll be using a bureau payroll company but will also pay pension to me.


So, do I combine all my four pensions into one of them and pay into that going forward, or do I look to a new scheme?

Or is this a situation where I should get an IFA involved?

Here are the pensions and amounts-



Legal and General - 100% L&G UK Equity Index Fund, £3,611.86


Standard Life - Standard Life Managed Pension Fund (60.1%), Pension Millenium with Profits Fund (39.9%) £39,470.94


Scottish Equitable / Now Aegon - Univ Lifestyle Col £7,836.88

TIA


Aviva - Aviva Mixed Investment 40-85% Shares S6 Pension Fund £11,710.31

atush

Have any of the pensions got a guarantee attached?

What are the fees to move them?

Is one better than the other 3, or will your new one be?


Will your new one accept transfers in? what are the costs and the funds available?

almacmil

atush wrote: »

Have any of the pensions got a guarantee attached?

What are the fees to move them?

Is one better than the other 3, or will your new one be?


Will your new one accept transfers in? what are the costs and the funds available?

No guarantees; can't see any fees for moving them; I was hoping maybe someone would know which is the best performing and advise (:o); I don't (and won't) have a new one because of the set up of the new role, unless I start a personal one.

bigadaj

Will your new company pay for an ifa to review they probably should do. This could then be a review of all your pensions, and in general where there are no guarantees then older plans frequently are expensive with poor choices.

Pensions are effectively two stages, one is the outer wrapper run by the insurance company, which then contains specific investments, frequently funds of shares and bonds.

Your current pensions look fairly average so a good opportunity for a full review.

atush

You can check the performance of you funds online and you can call the companies for the charges. Some, esp with profits, can have a charge to transfer out.

almacmil

Thanks all. Time to get face-to-face advice I think...