Pension help

musashi10

Hi, I enrolled in my 1st ever pension scheme in 2013 when I worked for a company, it was one where I put in some cash and the company matched it.

I left the company last year in april and the grand total of the pot was £2,000. This was an aviva pension.

Now I work for a new company who don't use Aviva, so I have £2,000 sitting in this fund, just wondering what I can do with this? Because if I leave it there because it is such a small amount the charges will slowly start eating into it and I'd rather have it all in one place or take it out and invest in my own scheme perhaps?

Anyone any ideas what I can do in this situation?

Thanks

dunstonh

just wondering what I can do with this?

leave it there or transfer it to your new scheme

Because if I leave it there because it is such a small amount the charges will slowly start eating into it

That isnt how the charges work.

green_man

As Dunstonh says, the charges you would expect to be much smaller than the average growth of the fund so I wouldn't worry too much about that.

As the Aviva was a Defined contribution scheme, you should also be able to transfer this to another Defined contribution scheme. If you are in stable employment then you could consider transferring to your existing company scheme - Compare the charges and performance with the Aviva fund and then make up your mind. Obviously its easier having everything in one pot in many ways but it's not essential.