Pension Review-Being made Redundant please help!

jnielow

Dear All,

Hope everyone is ok!.

I am being made redundant in May, and am looking at my pension and other finances!. I run a small pension which I pay monthly with Legal & General this has been going since 2004 I carried on paying it when I left an employer. I pay £20 per month I know not much!.This is a stakeholder scheme.

My company was taken over by another last year under TUPE agreement and I had a scheme running with Zurich,my new employer would not carry on with Zurich but had their own scheme that employees could take on. I therefore transfered my benefits from Zurich to Barclays Global my new empployers scheme. I pay 3% my employer pays 3% each month.

I am as I said being made redundant shortly I would like some advice/guidance as to what to do should I :

1/ Carry on paying the Legal & General scheme/ or freeze it?

2/ Freeze my Barclays Global scheme?

3/ Combine both the above into a new employers scheme if they accept.
If the latter I guess I need to take into account charges for transfering.

I confess I am a pension amateur, I have 2 other preserved final salary schemes which I am leaving alone.

Any help would be welcomed on this!

Thanks

Jason

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