Old Private Pension

R1chP

Hi folks,

Had a couple of meetings with an IFA, he's been in touch with Phoenix Life and even they could not give him the full information. They would have to do an archive search which could take 2-3 months, but he has enough to go on to transfer to a flexi draw down
pension.

It seems there is a guaranteed minimum of £42k and the rest is made up of bonuses (not guaranteed) with a current transfer value of £71k.

It is made up of the SERPS I transferred into the pension apparently.

So the plan is to use the tax free portion and my own savings to pay as much of the mortgage as I can hopefully leaving about £10k to pay off over a year or two rather than an emotional "knee-jerk" and pay a lot of tax.

Thanks.

R1chP

IFA did sort it out for me, £19k TFLS (used to pay chunk off mortgage) and £56k set up in a flexi access Pru fund pension, which I'll use as an emergency fund or leave until retirement.

Happy days.