Pension

Pegasus3245

I have some old past pensions, because of the small amounts in them I have transferred them all into my current pension provider so its easier to manage and control investment.

However; I have a small pension with 'The Peoples Pension', the value of it is about £120 and was just a single contribution from an old employment.

I am unable to transfer this, my current policy is with Aviva and they will only accept a pension transfer which is greater than £500.

I know many people would be reluctant to give out pension advice, but this isnt what I am after - its just annoying that I have £100 sat there doing nothing which I cant touch for the next 30 years.

Is there any way of taking out this money, or even any way of cancelling the policy and transferring it to a charity - simply put I just don't see the point in having it at all.

Thanks,
Scott.

dunstonh

its just annoying that I have £100 sat there doing nothing

It will not be sat there doing nothing. It will be subject to investment returns.

I am unable to transfer this, my current policy is with Aviva and they will only accept a pension transfer which is greater than £500.

Are you sure? Normally, it is the total amount of the transfers in that matters. Not individual amounts. Although, if you have already done the others, that would be too late.

Is there any way of taking out this money, or even any way of cancelling the policy and transferring it to a charity

No

Lokolo

Top it up by £400 then transfer it?

IanManc

Pegasus3245 wrote: »

I have some old past pensions, because of the small amounts in them I have transferred them all into my current pension provider so its easier to manage and control investment.

However; I have a small pension with 'The Peoples Pension', the value of it is about £120 and was just a single contribution from an old employment.

I am unable to transfer this, my current policy is with Aviva and they will only accept a pension transfer which is greater than £500.

I know many people would be reluctant to give out pension advice, but this isnt what I am after - its just annoying that I have £100 sat there doing nothing which I cant touch for the next 30 years.

Is there any way of taking out this money, or even any way of cancelling the policy and transferring it to a charity - simply put I just don't see the point in having it at all.

Thanks,
Scott.

I may be being a bit naïve, but couldn't you contribute another £381 to it - making it greater than £500 - and then transfer it to Aviva?

Mnd

That's what I would do, either that or book a table for your 55th and use this cash��