should i transfer into my stakeholder pension

paul2louise

I worked for my last employer for 41/2 years. It was a final salary pension with samworthbrothers limited superannuation scheme. My pension value is £1658.25. I would like to know would it be btter to leave it where it is or tranfer it into my nrwich union stakeholder that way all my money is in one place

thanks

louise

dunstonh

Which option will give you the most benefits?

paul2louise

i dont really understand final salary pensions so i am not sure

should i speak to an advisor,or is this amount of money not that big a deal

thanks

dunstonh

A TVAS (transfer analysis) would need to take place. That would require an IFA (most tied agents are not authorised). Problem is that your transfer value is small and it would probably cost more to have a TVAS and recommendation done than its worth. Statistically, the odds are you would be told to leave it where it is unless the terms are poor or the scheme has financial issues.

So, an IFA probably isnt worth the cost in this case and that may mean you take a decision which may or may not be best. However, we are only talking £1658 so even if you make the wrong decision you are only talking pence or few pound in reality.

EdInvestor

Since it will be revalued upwards to your retirement by 5% or inflation it's unlikely you will lose out by leaving it there, where you take no risk, unlike with yourother pension..