Small Pension, Not Paying In

Erik_V_EyeKing

I have a small pot with what was originally part of General Portfolio, it was the SERPS thing.
Total value is a smidge over £8K, but I've never directly contributed. It now sits with ReAssure.

I've requested a transfer value. They state that their exit fee is capped at 1% of the value.
Assuming that the penalties are not too severe, I think it makes sense to transfer the sum into my main personal pension.

Is there anything else I ought to consider or that I've missed?

MallyGirl

Are there any guarantees or benefits?

Erik_V_EyeKing

MallyGirl wrote: »

Are there any guarantees or benefits?

I don't think there are. I entered this scheme when I was in my 20's after some pressure from the "financial adviser" (General P shark).

Hopefully, it should be a clean exit should I choose to do so.

Albermarle

If it was a SERPS related pension then unlikely to have and guarantees or special benefits attached .
Due to the relatively small amount then probably better just to transfer it your main pension even if there is a small exit fee .

Brynsam

Albermarle wrote: »

Due to the relatively small amount then probably better just to transfer it your main pension even if there is a small exit fee .

Not necessarily. OP, read this, noting particularly point 4 of the article about 'small pots': https://www.thisismoney.co.uk/money/pensions/article-7411619/Should-merge-old-pension-pots-one-scheme.html

Erik_V_EyeKing

Brynsam wrote: »

Not necessarily. OP, read this, noting particularly point 4 of the article about 'small pots': https://www.thisismoney.co.uk/money/pensions/article-7411619/Should-merge-old-pension-pots-one-scheme.html

Great, thanks for that. Will raise the points in that article when I speak to them.