We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Transfer a free standing AVC into my employers pension scheme?
wobbin
Posts: 2 Newbie
Hi,
I have a free standing AVC with the Pru which attracts charges of 0.75% per annum. This is independent from my old employers final salary scheme and was set up as a result of a pension mis-selling query in 2001. I have never paid anything else into this AVC since then.
My current employers pension scheme has annual charges of 0.478% per annum.
Transferring the AVC value seems like a no brainer at first glance to me - is there anything I'm missing?
Cheers
Robin
I have a free standing AVC with the Pru which attracts charges of 0.75% per annum. This is independent from my old employers final salary scheme and was set up as a result of a pension mis-selling query in 2001. I have never paid anything else into this AVC since then.
My current employers pension scheme has annual charges of 0.478% per annum.
Transferring the AVC value seems like a no brainer at first glance to me - is there anything I'm missing?
Cheers
Robin
0
Comments
-
Not sure how close you are to thinking about withdrawing from this Pru pension?
They have a habit of charging you 3% for 'financial advice' for starting a drawdown/withdrawal process. Plus their customer service has been very poor in recent years.
So probably another good reason to look at transferring out.2 -
You can do better than 0.478%
If you're going to the hassle might as well do a proper job.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards