Pension Bee or Advisor ?

smallzoo2

Just a question around the £30k max transfer value.

If I have a Pension say worth £50k and I transferred £29k to one provider and £21k to another provider  does that still count as more than £30k or as I have split it they are both under £30k.. thats of course if the provider allows it 

Albermarle

smallzoo2 said:

Just a question around the £30k max transfer value.

If I have a Pension say worth £50k and I transferred £29k to one provider and £21k to another provider  does that still count as more than £30k or as I have split it they are both under £30k.. thats of course if the provider allows it 

The £30K max transfer value is only an issue if you are trying to transfer out of a Defined Benefit( DB) /final salary type scheme.
For a Defined Contribution ( DC)/money purchase scheme you can transfer out any sum you like.

You have not mentioned in any post that any of your older pensions are DB schemes, so it has been assumed they are all DC schemes.
If you are not sure this should help.
Defined benefit: final salary pensions schemes explained | MoneyHelper

Defined Contribution Pension schemes | MoneyHelper

segovia

Open a SIPP and do some research, select one fund with a low expense ratio, 0.15% is classed as low.

Cost will be circa £200.00 - £240.00 a year + 0.15% of your pot

segovia

smallzoo2 said:

MFW2026 said:

Open a vanguard sipp and add all pensions in there 

Thanks. I had a quick look after you mentioned it. It seems there are lots of SIPP providers such as vanguard. I guess the only worry is that.I am not a real risk taker and know nothing about which companies to invest in etc so would be worried that I might blow part or all of the pension on a bad risk ?

As long as you don't invest in Cannabis Funds, Crypto you should be Okay. 

Global ETF's have worked out okay for me, I am 5% down on the year which considering the NASDAQ, S&P etc has taken a hammering isn't too bad. Once Putin is out of the way, and we return to normality, it will start to rise again.  Now is an ideal time to get into the markets.