Moving a Pension

Websterella

Hi, I'm new to the forum, so please forgive if this is elsewhere.
I have a pension in a previous job. Tried to transfer it into my last job as just started a new role. I was told I can't because of the way pension was invested like into stocks or something like that and can only change it into like wise pension. Really annoyed as the sum keeps falling and have lost hundreds of pounds already and seems like I can't do anything with it. Any advise welcome.

atush

What is the pension invested in? It will fall when stocks fall (they have this year) and rise when they do. and would do that no matter who holds your pension?

dunstonh

Really annoyed as the sum keeps falling

Why is it falling?

Investments go up and down in value in the short term with a view to going up in the long term (think of it as a zig zagging line that trends upwards).

Has yours gone down because the statement covers a period when the markets were lower?

seems like I can't do anything with it.

What do you want to do with it? And yes you can do things with it.

However, I think the first priority is to look at your knowledge and understanding. Otherwise you are going to end up repeating the cycle every time there is a zag instead of a zig.