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What to do?
mik_2
Posts: 1 Newbie
I'm 42, and thinking of leaving a big corporation where I've been for nearly 20 years. They offer a final salary pension, which I understand is quite generous.
Should I leave that pension to sit there, and start a new personal scheme which will eventually supplement it on retirement, or should I ask for a transfer of all the funds in the current plan and start a completely new one from scratch?
Grateful for a steer pls....
Should I leave that pension to sit there, and start a new personal scheme which will eventually supplement it on retirement, or should I ask for a transfer of all the funds in the current plan and start a completely new one from scratch?
Grateful for a steer pls....
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Comments
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The answer to your question is going to be "depends". There are a lot of variables in there which can make it good advice or very bad advice to transfer.
Statistically, the odds are you would leave the scheme where it is and start a new pension (either new employer if they offer one or your own)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.0 -
Does the new company offer a f/s scheme and will they take a transfer from your old one on decent terms?Trying to keep it simple...
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