Best pension to transfer to

I currently have a couple of old frozen pensions that only allow the option of buying an anuity, an advisor has recomended take out a pension that allows draw down and other withdrawal options and transfer these to it, I still contribute to a company scheme so don't want to make any regular payments to this new pension.
What are the best pension companies to approach that allow a transfer and no further payments? 

Comments

  • Marcon
    Marcon Posts: 13,852 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Combo Breaker
    RSB65 said:
    I currently have a couple of old frozen pensions that only allow the option of buying an anuity, an advisor has recomended take out a pension that allows draw down and other withdrawal options and transfer these to it, I still contribute to a company scheme so don't want to make any regular payments to this new pension.
    What are the best pension companies to approach that allow a transfer and no further payments? 
    What's your advisor recommended? If the answer is 'nothing' (or they want a huge fee for suggesting something!), then pretty much any modern personal pension contract (SIPP or other non-SIPP personal pension) will do the trick. See https://www.moneysavingexpert.com/savings/cheap-sipps/
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
  • dunstonh
    dunstonh Posts: 119,280 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    What are the best pension companies to approach that allow a transfer and no further payments? 
    There is no one best pension.    It all depends on the type of assets you will be investing in, the services you want, the quality of the software, the charges etc.  

    Software, for example, is like marmite.  Some people may love an interface and functionality. Others may hate it and want something that is not offered by that software.

    Different platforms will have different target markets and build their offering accordingly.

    Your adviser will recommend what they feel is best for you.    However, specifically answering your question, all of them meet your criteria.

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Albermarle
    Albermarle Posts: 27,195 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    RSB65 said:
    I currently have a couple of old frozen pensions that only allow the option of buying an anuity, an advisor has recomended take out a pension that allows draw down and other withdrawal options and transfer these to it, I still contribute to a company scheme so don't want to make any regular payments to this new pension.
    What are the best pension companies to approach that allow a transfer and no further payments? 
    You have a large choice- spoilt for choice in fact.

    Also normally a workplace pension will accept transfers in, and most can seamlessly move to drawdown when the time comes ( not all). So do not discount this as an option.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350K Banking & Borrowing
  • 252.7K Reduce Debt & Boost Income
  • 453.1K Spending & Discounts
  • 243K Work, Benefits & Business
  • 619.9K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 255.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.