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Stakeholder Pension - what to do?

jimmyg_73
Posts: 36 Forumite


I recently started work with a new company and have take up their personal pension scheme. However, I still have a stakeholder from my old employer which I was paying into for 8 years.
I am no longer paying into this pension, but have about £15,000 sitting doing nothing in it. What should I do with this money?
I am no longer paying into this pension, but have about £15,000 sitting doing nothing in it. What should I do with this money?
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Comments
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I am no longer paying into this pension, but have about £15,000 sitting doing nothing in it. What should I do with this money?
I don't understand why you think the assets in that older pension are doing nothing. Presumably the money is invested, and it's growing or shrinking in line with the investments made.
Warmest regards,
FAThus 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 AD0 -
I recently started work with a new company and have take up their personal pension scheme. However, I still have a stakeholder from my old employer which I was paying into for 8 years.
I am no longer paying into this pension, but have about £15,000 sitting doing nothing in it. What should I do with this money?
Alternatives are either move it into your current pension, if the scheme allows, leave it where it is or open a new, probably personal, pension and move it into that.
Whether you should do that will be down to what you are invested in, and what you want to be invested in and what the different options allow, charges for managing the fund and flexibility. Older pensions can have guarantees but not a stakeholder, though you may be able to move into something with lower charges in all likelihood and a better range of potential investments.0
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