Pension Advice

Pat2524

Hoping for some advice - sorry if I have not posted in the correct place! I have about £20k saved in Prudential - not paid anything in for over 20 years and about £5K from an employer (left 5 years ago).  Is it really worth me trying to find a pension investment for this rather small amount or would I be best withdrawing it all and putting it into an ISA? I am 70 years old, work part time, no mortgage. I have a very small private pension plus state pension but that is all. Thanks

MallyGirl

If you withdraw it all in one go you would pay a fair bit in tax. You might be able to transfer them both into your other pension for a simpler life 

LHW99

Pat2524 said:

Hoping for some advice - sorry if I have not posted in the correct place! I have about £20k saved in Prudential - not paid anything in for over 20 years and about £5K from an employer (left 5 years ago).  Is it really worth me trying to find a pension investment for this rather small amount or would I be best withdrawing it all and putting it into an ISA? I am 70 years old, work part time, no mortgage. I have a very small private pension plus state pension but that is all. Thanks

Is the £20k some kind of bond (you say saved)? Or is it an old pension as suggested by MallyGirl?

The tax treatment would differ, as would the ability to transfer into another pension