DB+DC Early Employment Exits- What's next from 5-10K one off

Dandytf

Mser's
from savings/investments thread, it was suggested as post via Pensions Board.
As I currently have on hold DB Pension 55K total value +DC 17.7K total value.
single
48 years
Mortgaged property.
I've exited employers since last week- the DC One.
I Find a decent incoming payment of 10K approx.
Though mser's suggest my 5K lendable loan should be re paid as priority.
I'de like to spend a few hundred or 1/2K as existing Isa top up.
Is it worthwhile using 3-5K into a new Pension-I have a new job starting in a week or two.
What's the best way to determine if new Employers scheme betters any Private or Sipp's that are available to choose from.
Thanks

Marcon

Dandytf said:

What's the best way to determine if new Employers scheme betters any Private or Sipp's that are available to choose from.
Thanks

Simple: will your employer pay into any scheme other than their own nominated pension? If not, you're giving up 'free' money.

Dandytf

Marcon said:

Dandytf said:

What's the best way to determine if new Employers scheme betters any Private or Sipp's that are available to choose from.
Thanks

Simple: will your employer pay into any scheme other than their own nominated pension? If not, you're giving up 'free' money.

Thanks my last Employers were strictly paying into their own Nominated Pension.
I'de never expect any Employer to contribute elsewhere unless I'm mistaken.
What your advising is go with any new Employers scheme which I assume will be is it 5 or 8% min from myself, initially,

Dazed_and_C0nfused

Why wouldn't you go with your new employees scheme, even if only the minimum to get whatever the employer will match/contribute?

By not doing so you are giving up part of your (deferred) wages and depending on the contribution method also paying more tax than you need to.

Dandytf

Thanks mser's
I'll hopefully have some control over Investment choices with new Employers, though cannot say until I view their Scheme.
I liked the Idea of going Private for a change, though I'll stay safe and hopefully Join Emlpoyers.