V small European pension - i want to transfer it to UK

Minky101

Hi! I'm having a bit of a problem understanding what to do next and hope someone can maybe help? I've searched this forum and can't see anyone else has asked this question.

The nature of my profession means I have (it is encouraged) to move jobs quite a bit. My last job, of 1 year duration, was in Europe and I was auto-enrolled in the local pension scheme there. Now i'm back in the UK i'd like to consolidate it into my UK pension (… because the European pension could potentially be hard to access in the future post-Brexit and anyway its a small amount). I also don't want have to wrestle with 20 small pensions when its time to retire! My problem is not with the transfer (both pension providers offer the service) but with the fact I need an IFA to confirm I've received advice to do it. I cannot, for the life of me, get an IFA interested. I've tried to contact numerous ones but they all refuse/ignore me for the complexity and money involved. I don't blame them, but it means I have zero options now doesn't it? Thank you to anyone that can steer me in the right direction if they've had a similar experience :-)

FatherAbraham

Minky101 wrote: »

Hi! I'm having a bit of a problem understanding what to do next and hope someone can maybe help? I've searched this forum and can't see anyone else has asked this question.

The nature of my profession means I have (it is encouraged) to move jobs quite a bit. My last job, of 1 year duration, was in Europe and I was auto-enrolled in the local pension scheme there. Now i'm back in the UK i'd like to consolidate it into my UK pension (… because the European pension could potentially be hard to access in the future post-Brexit and anyway its a small amount). I also don't want have to wrestle with 20 small pensions when its time to retire! My problem is not with the transfer (both pension providers offer the service) but with the fact I need an IFA to confirm I've received advice to do it. I cannot, for the life of me, get an IFA interested. I've tried to contact numerous ones but they all refuse/ignore me for the complexity and money involved. I don't blame them, but it means I have zero options now doesn't it? Thank you to anyone that can steer me in the right direction if they've had a similar experience :-)

If you're not even going to tell us which European country is involved, it gets even harder to help you. Are we able to infer that it's an EU country, since you mention Brexit, or am I taking too much for granted?

How much capital is at stake?

What is the nature of the "local pension scheme" you joined? State provided, occupational, or private?

Taking likely advice costs into account, why do you still think it's better to transfer than to take benefits as they come due?