Move Standard Life Pension & Costs.

TheDutchman

I have a frozen pension pot of 62,000 with Standard life. I currently receive a small local authority pension and work 3 days a week. So will be ok when I get to pension age 66 enough to pay the bills.
It has been suggested that I could remove %25 tax free if moved to a more modern pension and then keep the other 75% in pension fund. up front fees of %2 and annual fee of 0.5% which from briefly reading seems fair.

I'm not sure wether its best to leave it were it is and then take %25 in 5 years time or what else I might do.
Can't I just take %25 with out incurring any fees, do I need an IFA?

All suggestions appreciated, many thanks.

dunstonh

I have a frozen pension pot of 62,000 with Standard life.

it is unlikely to be frozen. Frozen has a specific meaning and you dont see it applied to individual pensions.

I'm not sure wether its best to leave it were it is and then take %25 in 5 years time or what else I might do.

General rule of thumb (which is not 100% exact) is to leave it in the pension until you need it. Its in the most tax free place. So what would you do with that 25%?

Can't I just take %25 with out incurring any fees, do I need an IFA?

You dont need an IFA but you probably cant just take it from SL but it may be possible depending on the plan version.