Redundant Winterthur Pension - any advice, please?

Jolanta_Nowak

I stopped paying into my 'Rainbowplus' (former Colonial Mutual) Winterthur pension some years ago and started up a Health Service linked Standard Life stakeholder.

I note from the recent statement that the 'bid value' has increased by 9.5% over the last year to £10344. The 'transfer value' likewise has increased to stand at £9947.

I am a total novice in financial matters like these. Has anyone any advice as to whether I should do anything with this small pension or just leave it be? Can it be transferred to the SL product? Is this desirable?

The pot is divided equally between two funds: 'Rainbow Equity' and 'Rainbow Managed'.

The only other information I can give which I think might be relevant is that I am 53 years old.

Thanks in advance for any suggestions.

EdInvestor

You need to look at performance, fund choice (especially external fund availability) and charges of both pensions to see if it's a good idea to transfer.In general more recent pensions are a better bet than older ones, though in some cases (probably not yours) there are valuable guarantees attached to old ones and they shouldn't be moved.

Jolanta_Nowak

EdInvestor wrote: »

You need to look at performance, fund choice (especially external fund availability) and charges of both pensions to see if it's a good idea to transfer.In general more recent pensions are a better bet than older ones, though in some cases (probably not yours) there are valuable guarantees attached to old ones and they shouldn't be moved.

I take it from this that you consider there to be little substantial difference between SL and Winterthur pensions per se..?

dunstonh

I take it from this that you consider there to be little substantial difference between SL and Winterthur pensions per se..?

The winterthur pension you have is not their retail pension but contracted in/out money purchase occupational scheme or a group personal pension with bespoke funds. There is a good chance that the charges on it are lower than Standard Life's stakeholder.

Given the choice, I wouldnt have either as neither of them offer the fund range I would desire. However, if you prefer simple over the potential of investment returns, then both of them are fine.

jimboyo

hi no bonus form winthur life last pension noterminal bonus after 28 years two pensions coming in three years not much hope i have pure endownent policys is any body in the same boat when winthur took over my pension company it stop ped increasing thanks

dunstonh

jimboyo wrote: »

hi no bonus form winthur life last pension noterminal bonus after 28 years two pensions coming in three years not much hope i have pure endownent policys is any body in the same boat when winthur took over my pension company it stop ped increasing thanks

I'm not sure what you are trying to say but what you have is different to that discussed on this thread.