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  • FIRST POST
    • lcp03o2
    • By lcp03o2 17th Apr 18, 1:21 PM
    • 1Posts
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    lcp03o2
    Need Advise On Pension
    • #1
    • 17th Apr 18, 1:21 PM
    Need Advise On Pension 17th Apr 18 at 1:21 PM
    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
Page 1
    • dunstonh
    • By dunstonh 17th Apr 18, 2:48 PM
    • 94,495 Posts
    • 62,444 Thanks
    dunstonh
    • #2
    • 17th Apr 18, 2:48 PM
    • #2
    • 17th Apr 18, 2:48 PM
    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.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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