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Frozen Pension

I have a two Prudential Pensions which are worth £80,000 between the two. I froze these about a year ago due to financial difficulties. I am 53 years old and used to pay around £200 per month into them. I am just wondering whether it worth restarting these again or just leaving them until retirement and investing the £200 into something else?
In truth I'm not sure if I could manage the £200 every month at moment and bit baffled with all pension jargon.
Advice please.

Comments

  • dunstonh
    dunstonh Posts: 120,861 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Frozen has a very specific meaning. You would not have frozen those pensions.
    I am just wondering whether it worth restarting these again or just leaving them until retirement and investing the £200 into something else?

    How are the terms of the pru pensions compared to alternatives?
    Is the option to restart available? (it may not be)

    Without knowing the terms of the pensions and the sort of alternatives that would be suitable for your financial circumstances, it is an impossible question to answer accurately. The important thing is that something is better than nothing. However, what is best for you will be something that cant be answered on an internet site. That is something for you to work out or your adviser to work out.
    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.
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