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New job, being enrolled in Standard Life Pension, can I sweep balance into my private pension.

salsapasta
Posts: 2 Newbie

New job, being enrolled in Standard Life Pension, can I sweep balance into my private pension on a regular basis? I will only be in the Standard life one for 3 to 5 years as I'm in my 60's now.
Also would it be worth reducing my contributions to my private pension and the reduction adding it to my company one to get the extra contribution from my employer?
Also would it be worth reducing my contributions to my private pension and the reduction adding it to my company one to get the extra contribution from my employer?
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Comments
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If your employer will match any extra contributions you make to your workplace one then it is always worth doing that.You can continue to make contributions to your other pension as well as your workplace one, assuming you don’t exceed the maximum allowed.1
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can I sweep balance into my private pension on a regular basis?Have you asked Standard Life if they support partial transfers on your pension?
Have you asked your existing provider if thy support partial transfers?Also would it be worth reducing my contributions to my private pension and the reduction adding it to my company one to get the extra contribution from my employer?Free money beats no free money. If the employer contribution is increased by you paying more in, then it is common sense to do so.
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.1 -
You should match upto the maximum that your employer will pay. Additionally if the company pension is offering Salary Sacrifice then you should use this to the full extent possible over your own SIPP contributions.1
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can I sweep balance into my private pension on a regular basis?
For what reason would you want to do this?
Are you aware that SL workplace pensions often have big discounts from the standard fees?2 -
Thank you for the replies.
I'm 60, it's doubtful I would keep working until I'm 67 so 7 years max in this Standard life pension.
I have 3 other pensions, one very small one with Kingfisher, and 2 with Avia, one of these is where I would want the transfer to go to.
I will check if partial transfers are allowed from Standard life and Avia. .0
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