dormant company pension Plus personal pension

user picture
chockyx
Wed, 25/03/2009 - 13:05

Im 55
I have a dormant pension plan from my last employer which no longer exists
No money has been paid into it since 2000
The current value is 82k
The transfer value is 85k

The value is pretty static and has not move much over the last nine years

I have been advised to move it into a Metlife Retirement Portfolo or similar

I have been quoted 3% for doing this which seems a lot

What other options do I have to gain max growth from this fund

I would like the option for release of 25 % cash at retirement

What fee should I pay to an IFA for transferring the 85k into a new scheme

 

Would it be better to leave it in the existing scheme and relocate it to my new employer

I also have an individual personal pension

This is contracted out from the second state pension

The current value is 49 k

Should I stay contracted out of the second state pension

Should I keep this scheme running

Its dropping in value at the moment-since last year

Finally
As I contracted out from the second state pension

Does this mean I loose the basic state pension

Thx for your help

Chockyx

‹ Second State Pension - In or out Should the state retirement age be scrapped? ›
Wesley_A:

That's a very difficult problem. 3% is much, so this seems to be a good offer to me. I would not transfer the 85k to a new scheme, usually the fee is high. You have to ask if you have the possibility to transfer it with little additional cost, then it's probably an option.

Tue, 31/03/2009 - 12:14
Guest (not verified):

have you heard of QROPS? you should investigate, I know all about them and I know a company who dont charge any fees for their work, you just pay the new provider for the pesnion investment. (much cheaper than 3%) can provide more ino if you are interested

Tue, 19/01/2010 - 09:08