Financial details below:
Current age: 47
Salary: 129k (private sector)
Length of service: 3 years
Pension type: Defined Contribution
Current value of pension: 142k
I am also a deferred member of my previous employer's DC scheme
Current value of pension: 440k
The question is a simple one - should I transfer the 440k in my old pension scheme across to my new employer's one and combine them?
Intuitively this seems like a sensible thing to do, especially from the perspective of pensions planning and projections.
Not a pensions expert however so question is - Am I missing any potential angles here or should I just go ahead and do it?
Current age: 47
Salary: 129k (private sector)
Length of service: 3 years
Pension type: Defined Contribution
- Pension contributions:
- I contribute 20% (so still just under the 115k ceiling y about 2k)
Current value of pension: 142k
I am also a deferred member of my previous employer's DC scheme
Current value of pension: 440k
The question is a simple one - should I transfer the 440k in my old pension scheme across to my new employer's one and combine them?
Intuitively this seems like a sensible thing to do, especially from the perspective of pensions planning and projections.
Not a pensions expert however so question is - Am I missing any potential angles here or should I just go ahead and do it?