Who to go to for advice and what recommendations on my current pension position

Bernard

Hello,

I am 32 years old and I have three pensions which I would like advice on. If anyone can advise on a company that I could visit to do this I would be grateful. If anyone here is happy to offer their opinions/advice I would also be grateful. Here are the details on my Pensions.

Abbey Stakeholder Pension
Started :2003
Currently paying in approx £135 a month which I believe is matched by Abbey my employer.
Current value: £7030

between 1996 - 2003 no pension contributions made at all.

Abbey Amalgamted Pensoin Fund ( previous employers pension )
Not contributing ay money into it (stopped around 1996).
Current value: £2669.52
Deat before Retirement:
Spouse pension £1334.76
Childs Pension £667.38

L&G Personal Pension Plan
Not contributing any money into it (stopped around 1993).
Investment Fund: Managed £819.49 Unitised with Profits £258.99
Final Bonus £29.68
Total Current Fund Value £1065.72

The reason I am after advice is because I do not know if it makes sense having the last two pensions. A couple of questions I have are:
- Should I just trade the last two pensions in and transfer their value into my Stakeholder pension?
- Can I start contributions to the L&G personal pension as well as my Stakeholder pension? Is it worth it?

Thank you all for your time. :beer:

Bernard

dunstonh

I am 32 years old and I have three pensions which I would like advice on. If anyone can advise on a company that I could visit to do this I would be grateful. If anyone here is happy to offer their opinions/advice I would also be grateful. Here are the details on my Pensions.

Any IFA that has a specialist in pension transfers. Although any IFA should be able to handle personal pension transfers, experience does help.

The reason I am after advice is because I do not know if it makes sense having the last two pensions. A couple of questions I have are:
- Should I just trade the last two pensions in and transfer their value into my Stakeholder pension?

As it happens, I wouldnt personally touch Abbey for pensions. L&G are a bigger player in pensions and the charging structure of their current pension offering is better than Abbeys. Much bigger fund range as well.

- Can I start contributions to the L&G personal pension as well as my Stakeholder pension? Is it worth it?

If L&G allow it then yes. However, whether you should do is a totally different matter.

We cant give recommendations here but from your post, it does appear that you would benefit from independent advice. There is more to pension transfers than just filling a form in to do it. Charges, retained benefits, fund selection, add ons (such as waiver) all have an impact on what should or shouldnt be done. As we dont know what you have on your existing pensions, we cant really help you. Generic guidence could be given though.

Personally, from what i know about the pensions and from what you have typed, I wouldnt be paying into that Abbey or L&G pension. Your ex occupational pension obviously cannot take current contributions. As it happens, that may be the best one out of the bunch.