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What should I do with an old pension?
BC1973
Posts: 14 Forumite
I have a pension with my last employer that's been sitting there doing pretty much nothing for the last 14+ years and I'm interested in what my options are. I don't want to cash it in but should I leave it where it is or are there benefits in moving it?
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Comments
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Do you know what it is invested in and what the charges are?0
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that's been sitting there doing pretty much nothing for the last 14+ years
What do you mean by that?
If it is a money purchase pension then it would be invested and would have grown over that period. If it is a defined benefit scheme then it gets an indexation applied to it.I don't want to cash it in but should I leave it where it is or are there benefits in moving it?
You haven't told us anything about the pension. So its impossible to offer any commment about what you have. You haven't told us anything about where you would move it to. So, we have nothing to compare it against.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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