Should I transfer or defer my pension

vava2008

I recently moved companies and have the option of transferring my pension to the new company's scheme or deferring it. I payed into a final salary pension with my previous company for 7 and a half years, but the new company's pensions administrators have only offered me just over 2 years reckonable service if I wish to transfer to their scheme (also final salary).

I asked them why such a large difference between years served and reckonable service and I was told that my previous company was no longer a member of the public Sector Transfer club.

What I want to know is whether I'd be better off deferring my pension or transferring it to my new company's scheme?

If anybody could give me advice on this It'd be greatly appreciated.

Retired_I.F.A.

You havemore than two options, you can transfer to a plan belonging to you which from my experience more often than not is the best route. See also:

http://forums.moneysavingexpert.com/showthread.html?p=8114373#post8114373