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Transfer of DC pension into SIPP?
macadan
Posts: 1 Newbie
Hi all,
After doing a load of research over the years I'm finally taking the plunge and opening a share trading account. I currently contribute to my employer's group SIPP and a regular monthly savings regimen. I also have a discontinued DC pension with @£2500 languishing in it which, as terrible as it sounds I've forgotten about and therefore feel comfortable risking before my hard won monthly savings. Is it allowable to transfer the DC pension into a share trading SIPP, charges etc notwithstanding?
Any responses and experiences welcome.
After doing a load of research over the years I'm finally taking the plunge and opening a share trading account. I currently contribute to my employer's group SIPP and a regular monthly savings regimen. I also have a discontinued DC pension with @£2500 languishing in it which, as terrible as it sounds I've forgotten about and therefore feel comfortable risking before my hard won monthly savings. Is it allowable to transfer the DC pension into a share trading SIPP, charges etc notwithstanding?
Any responses and experiences welcome.
0
Comments
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Is it allowable to transfer the DC pension into a share trading SIPP, charges etc notwithstanding?
Allowable, yes.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 -
I've transferred a number of old high-fee and low-performance pensions into both SIPPs and Group Personal Pensions. You need to check that the old pension doesn't have any valuable guarantees such as Guaranteed Annuity Rate, and also that there aren't any nasty exit fees. You'll also be out of the markets for a while.
Good luck with your SIPP but I hope your research covered diversification, asset allocation, volatility and rebalancing.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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