Company offer to move shares to pension...unsure

silvercue

Hi,  my company have sent an email today offering people with Shares (through the companies schemes) to transfer some or all of the shares to our pension.  The shares will be invested into the pension fund.  I am guessing this is a tax efficient way to boost pension fund and the email alludes to this, but the shares schemes are also a tax efficient way to buy shares, some of which need to mature.
No idea if this is a good idea or not.....

NottinghamKnight

What company is it, ftse 100, private? How old are you as this will make the cash from these unavailable until age 55/ 57. As to tax efficiency then which share scheme are they currently being accrued under?

silvercue

NottinghamKnight said:

What company is it, ftse 100, private? How old are you as this will make the cash from these unavailable until age 55/ 57. As to tax efficiency then which share scheme are they currently being accrued under?

Thanks for taking the time.   It is BT.  I am 49.  I don't intend to cash the shares in in the foreseeable as they are worth ~half of what I have paid, tax efficient or not!

Marcon

silvercue said:

 I am guessing this is a tax efficient way to boost pension fund and the email alludes to this, but the shares schemes are also a tax efficient way to buy shares, some of which need to mature.
No idea if this is a good idea or not.....

BT have had this facility for some years, so by now they ought to be good at communicating relevant information, although obviously without actually giving advice. Have you read the paperwork you received thoroughly, or just skimmed it and hopped here to post? If the former, have a more detailed look at what you've got - and there should be a contact point for queries, so possibly start there, because BT will have the details of which share schemes you are in.

AnotherJoe

silvercue said:

NottinghamKnight said:

What company is it, ftse 100, private? How old are you as this will make the cash from these unavailable until age 55/ 57. As to tax efficiency then which share scheme are they currently being accrued under?

Thanks for taking the time.   It is BT.  I am 49.  I don't intend to cash the shares in in the foreseeable as they are worth ~half of what I have paid, tax efficient or not!

I think you should sell them before they are worth a quarter what you paid.

silvercue

Marcon said:

silvercue said:

 I am guessing this is a tax efficient way to boost pension fund and the email alludes to this, but the shares schemes are also a tax efficient way to buy shares, some of which need to mature.
No idea if this is a good idea or not.....

BT have had this facility for some years, so by now they ought to be good at communicating relevant information, although obviously without actually giving advice. Have you read the paperwork you received thoroughly, or just skimmed it and hopped here to post? If the former, have a more detailed look at what you've got - and there should be a contact point for queries, so possibly start there, because BT will have the details of which share schemes you are in.

There is an email, nothing else.  I have read it and it says this is a tax efficient way to add to your pension fund.   Obviously, it does not give any advice.
So, the reason I came here was to see if this is generally a good thing to do.
PS - if you think BT will be good at communicating just because they have do something al lot....well, you could not be more wrong!