Transfer my L&G pension to USS?

rubyjones13

Hi all, 

I work in Higher Education and have recently started a new role with a higher salary. My higher salary band also means that I no longer contribute into my Legal and General pension, but I contribute instead to a USS pension with better benefits. 

I have the option to transfer my L&G pension into USS, this pension pot currently has just under 30k, and has built  up the below since me joining it: 

Investment gain or loss since 16 May 2018

+ £4,455.47 (19.26%)

I've only just joined the USS, so I don't know if this will be a better investment option, but is there someone out there who can explain to me without the jargon, if it makes sense to have it all in one place (and if there is common knowledge that USS is better than L&G?). 

The USS pot is the USS Investment Builder.

Many thanks.

Southend_2

You may be able to take more than 25% tax free from USS income builder on retirement depending on your retirement income builder pension amount. So definitely worth looking into. Unfortunately you can't buy additional DB pension with a DC transfer in though.

rubyjones13

Southend_2 said:

You may be able to take more than 25% tax free from USS income builder on retirement depending on your retirement income builder pension amount. So definitely worth looking into. Unfortunately you can't buy additional DB pension with a DC transfer in though.

Appreciate your comment, thank you.