Contracted Out Protected Pension Rights

caeler · 29 April 2023 at 5:13PM

I was contracted out for about 12 years, until I was opted back in around 2012 (when this was discontinued for DC schemes). To this day I’ve no idea why my employer told me to opt out but as an 18 year old I did what I was told. Anyway, back to the story and eventual question!

All the contributions have gone into a scheme with Aviva. It’s got around £15K in it. I have a work place pension with Scottish Widow (PIA portfolio two) which I’m actively paying into, as is my employer. I think I’d like to transfer this small pot into it. Is this possible? I ask because my aviva paperwork references “protected rights”. I don’t know what this means. Is there anything I need to consider?

The management fee on the workplace Scottish widows scheme is 0.5% but I’ve no idea where to find the fee on the aviva scheme. I doubt the aviva scheme targets pension freedom either not that I’ve any idea if I want to draw down or target annuity at this stage.

Thanks in advance.