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Transfer of smallish pension pot at 68

Hello - having been TUPed earlier this year with no issues the company not want to change to a different group company pension provider. Unless members of the current pension plan do so the company will no longer pay their contribution - only in to the new plan. Being the age I am and quite likely to be retired(ing) within a year or so I am concerned that if I don't transfer I won't get the company benefit and if I do transfer the charge to me on a small pot will deplete it further. I could leave it where it is and join the new scheme (to get the benefit of the company contribution) but for a year or so - will set up costs etc outway any gains? I feel somewhat disadvantaged here and feel not enough thought has been given to someone in my position. A view on this from our experts would be welcome . many thanks

Comments

  • stagey wrote: »
    I could leave it where it is and join the new scheme (to get the benefit of the company contribution) but for a year or so - will set up costs etc outway any gains?

    That sounds best.

    Why don't you tell us what the "set up costs" are? Normally borne by the employer, but presumably you've got the scheme documentation they, which we can't see. Unless you provide concrete information, there's not much we can do.

    Warmest regards,
    FA
    Thus the old Gentleman ended his Harangue. The People heard it, and approved the Doctrine, and immediately practised the Contrary, just as if it had been a common Sermon; for the Vendue opened ...
    THE WAY TO WEALTH, Benjamin Franklin, 1758 AD
  • stagey_2
    stagey_2 Posts: 201 Forumite
    thanks for replying - I don't know yet what costs might come forth as still waiting to hear about that - I feel I might have to chase to get any details what so ever. Thanks for coming back to me.
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