Have all pensions dropped in value

plumb1_2

I have a little over 2 yrs until my selected retirement date, but I suppose I could change that?

And there is a early exit charge of  £1376 

dunstonh

What is the difference between current value and transfer value? 

Current value would not include any transfer cost/exit cost.  In the case of WP funds it would not include any final/terminal bonus.
Transfer value includes the transfer/exit cost and any final/terminal bonus accrued to date.

 I have been told that there would be no charge if i wanted to transfer to another pension! And the same applies if i want to cash in , there is no charge.

you say this but then you say...

And there is a early exit charge of  £1376 

That £1376 will be in the transfer value but not the current value.

plumb1_2

dunstonh said:

What is the difference between current value and transfer value? 

Current value would not include any transfer cost/exit cost.  In the case of WP funds it would not include any final/terminal bonus.
Transfer value includes the transfer/exit cost and any final/terminal bonus accrued to date.

 I have been told that there would be no charge if i wanted to transfer to another pension! And the same applies if i want to cash in , there is no charge.

you say this but then you say...

And there is a early exit charge of  £1376 

That £1376 will be in the transfer value but not the current value.

It wasn’t me who said there was no charge, it was collyflower.
my figures are
value £236,087.06
transfer £234,710.60
so I guess the early exit charge of £1376 is the difference between value and transfer. But if I lowered my retirement age I wouldn’t have to pay this ?