Open Market info help required

deucecoupe

I am 52 years of age, I've been paying into pension funds for about 27 years and I would like to transfer the policies and take a cash lump sum, which I believe can be up to 25 per cent of the fund value. I've been advised that an open market transfer is probably best for my requirements, but where do I go to find and compare what's available on the market. Is there a kind of league table where you can see what funds perform best. Can anyone give me a steer on this subject please?

dunstonh

I've been advised that an open market transfer is probably best for my requirements

That will also commence the income as well. Is that what you want or do you want to leave that chunk invested and just take the 25%?

but where do I go to find and compare what's available on the market. Is there a kind of league table where you can see what funds perform best.

Its an area that IFAs still have dominance as many of the better companies only quote through IFAs. Some go direct to public as well but offer no price improvements. Indeed, they can actually price wrose.

There is a very simple guide at the FSA website but you need to be aware that those figures are a guide only. They are not accurate enough to make a decision on.

EdInvestor

If you want to take the tax free cash but leave the rest invested (ie no taxable pension income until later) then what you need is an "income drawdown" plan.

Normally this involves transferring to a SIPP.

Do you have any "protected rights" money in the pension funds?