Is a Buy Out Bond my only option or are there alternatives

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harriet

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I transferred my pension fund into a Synergy Buy out Bond with Standard Life when the company I worked for was sold and liquidated and I have not worked since nor paid any further monies into the fund. It is my intention to access the fund when I turn 50.

I am mindful of the fact that every time I make an enquiry about the projected fund at aged 50 I am told the projection is not guaranteed and I could also lose everything I have put into it.

I am currently looking at my overall financial situation and just wonder is there something else I could do with the fund at this stage to guarantee it.

As I am by no means an expert on pensions etc... any advice would be appreciated.
 
If your primary concern is the security of the fund, perhaps the first thing you should be looking at is your choice of fund within your Standard Life Buy-Out Bond, rather than necessarily looking at the hassle and cost of moving the fund somewhere else. As it happens, Standard Life have a fairly wide choice of funds within their Buy-Out Bond product, including low-risk fixed rate deposits, bond funds and others. So you should be able to find something within the range already available to you that suits your requirement.

Have you any contact with the financial broker that set up the Buy-Out Bond initially? If so, the broker should be able to advise you on the options.

Liam D. Ferguson
 
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