What to do with other stakeholder?

hyposmurf

I have my own stakeholder pension set up and had been happily paying into it regularily.On joining my employer I stated that I wanted to be excluded from the company stakeholder pension as I had my own and couldnt afford to be included in this company stakeholder pension scheme.But this all got missed an they paid into a pension for me.I realised the mistake and let them know.I still get a statement from the pnsion company and it shows no other payments have been mad, so I guess it has been frozen.
What should I do?Keep this pension the way it is and let it follow its course?Move it into my other pension?Or is there other problems involved should I be able to have two stakeholders in one year?
The pension is with Standard life, I remember hearing about windfall shares at work from this pension,would I be entitled to this?Where can I check?

EdInvestor

You could transfer this small pension into your own scheme. Contact Standard Life to ask about windfall shares.

hyposmurf

Would it be worth transfering would I loose money at all,charges etc?The income I will get from this pension at a later date I'm sure would probably not be enough for tin of a beans a month.

hyposmurf

Any ideas?

Andy_L

hyposmurf wrote: »

I have my own stakeholder pension set up and had been happily paying into it regularily.On joining my employer I stated that I wanted to be excluded from the company stakeholder pension as I had my own and couldnt afford to be included in this company stakeholder pension scheme.But this all got missed an they paid into a pension for me.I realised the mistake and let them know.I still get a statement from the pnsion company and it shows no other payments have been mad, so

Why are you turning down free money from your employer?

dasherman

You would only get windfall shares from SL if the pension is 'with profits',but the transfer costs would probably be high.

Are you sure you want to opt out of your workplace scheme? You could be saying no to free money from your employer!

EdInvestor

There are no transfer charges on stakeholder pensions.