Paid Up - Hold or transfer

  • Thread starter CouldntGetAUsername
  • Start date
C

CouldntGetAUsername

Guest
Hi All,

I recently got a 100% equity based pension scheme paid up and am wondering if I should just let it as is or should I transfer to my other pension scheme (not heavily equity based).

I presume I should check out management charges etc.

Any help/pointers appreciated.

CGAN.

BTW There is no transfer penalty at this stage.
 
B

Benny

Guest
What type of pension?

Company or personal pension?

Benny
 
C

CouldntGetAUsername

Guest
Re: What type of Pension

company - proprietary director

Thx.

CGAN
 
B

Benny

Guest
Transfer Or Not

CGAN,

You've pointed to some of the considerations, such as what are the charges on the existing contract? can you get better elsewhere without an entry charge?

Diversification between providers isn't a bad idea - a point in favour of leaving it where it is.

On balance, chances are you'll be better off leaving it where it is - assuming it's not with a fund manager with a consistently poor track record. (goes against AAM teaching I know, but I know where I have my pension - with a consistently strong fund manager, not a consistently poor one.)

If it was set up by your own company - probably no reason to switch elsewhere. If it was with a previous employment, then there are different considerations.

Maybe if you got back with the fund name, provider and annual management charge I could be more specific.

Benny.
 
Top