Need Advise On Pension

lcp03o2 · 17 April 2018 at 1:21PM

Hi

I need advise on what to do with my pensions. I use to work for "Company 1" and I paid in to a pension. I have left "Company 1" and they transfered my pension to retiready. My money is now sitting in retiready doing nothing (I am not paying in to it) infact retiready are charging me £2 a month for an admin charge.

I am now working for "Company 2" where I have a pension that I am paying in to.

My question is what should I do with the retiready pension? Would there be any benefit in paying in to this pension? Should I close this pension? If I close shall I transfer to my pension with "Company 2" ?

I am also considering opening a life time isa, Should I put the retiready money in to there?

Thanks

dunstonh · 17 April 2018 at 2:48PM

My money is now sitting in retiready doing nothing

Is it not invested?

infact retiready are charging me £2 a month for an admin charge.

Nothing is free.

Would there be any benefit in paying in to this pension?

Possibly. Or maybe company 2 is better to use.

Should I close this pension?

you cant

If I close shall I transfer to my pension with "Company 2" ?

Transfer or keep are your only options.

I am also considering opening a life time isa, Should I put the retiready money in to there?

you cant.

You can consolidate the pension with the other one or use another provider or keep it where it is.

Need Advise On Pension

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free