We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Should i transfer my private pension to new civil service pension?
abbas5001
Posts: 352 Forumite
Hi all,
I joined the civil service earlier this year and joined their pension scheme. As i understand it, it is one of the most generous schemes around. After leaving my previous employer, who i had a private pension with, i received a letter from Aviva to advise that payments were obviously not being made into it anymore and that i could keep it or transfer it. It only contains a modest sum of around £750, am i better leaving it where it is or transferring it to my civil service pension, if possible?
Many thanks
I joined the civil service earlier this year and joined their pension scheme. As i understand it, it is one of the most generous schemes around. After leaving my previous employer, who i had a private pension with, i received a letter from Aviva to advise that payments were obviously not being made into it anymore and that i could keep it or transfer it. It only contains a modest sum of around £750, am i better leaving it where it is or transferring it to my civil service pension, if possible?
Many thanks
0
Comments
-
As it's such a tiny amount I can't think of any reason not to transfer it into your CS pension scheme.2
-
May as well transfer.
If it was a worthwhile amount, say £10k, something you could live on for a year then it would make sense to have it sit alongside the Civil Service Pension, but it's not worth the admin for that much.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards
