anyone on here in the world of pensions at all? I need a bit of guidance tbh.

I had been paying into a company pension for 8 years 4 months. I do nto work for that company any longer and i am unfortuantely not in employment at the time i write this.

So, do i leave the money where it is?

Can I get the cash out or something?




Thanks for your help

 

both my dad and brother are in pensions but I dont know shit

I think you can freeze the policy and then move it somewhere else when you are ready.

You defo wont be able to get your hands on the cash.

 

i guess it could be moved and re-invested?

 

I`d leave it Sludge TBH you want be able to touch the cash. cant you freeze it? then contribute when your working again what does the company say?

 

tbh staffi i havnt asked. Well i have BUT to discuss further Forrester and Hyde the advisors want £50 per half hour . money i dont have All i wanted is like an eeasy answer from em that wud take 5 minutes but il gonna get billed half hour

 

We do pensions in our building but i dont work with them, although i do have a comapny pension...

Surely the money will be paid into a pension against your national insurance number then if you start a new company with a pension scheme the money will just build ontop of the existing... could be wrong tho...

But i am 99% sure that you cant get at it once its in there

 

I will ask at work for you of a bargin price of £40 per half hour

 

I believe the accrued amount will indeed remain invested as it is. I think you'll find that you could only retrieve your own contributions if you were a member of the scheme for less than 2 years.

Best to leave it as it is for now and then when you get another job, speak to whoever administers their pension scheme and enquire as to the possibility of transferring the old pension fund into your new one.

HTH

Edd

 

Edds right you cant touch it at the moment and you have choices in terms of leave it were it is and you will receive a "small" penesion of it when you retire

Or

You can move it into some other personal pension fund etc

If you leave it where it is MAKE SURE You keep them informed when you move home etc because most have a pay out if you die and you wouldnt want your family to lose out

NIge

 

It depends what the company pension scheme is like. If it's a decent one then leave the money where it is, it will continue to accrue interest for you. When you get another job if the scheme is better or if you want to move the funds from the 'old' scheme to the new one you could do that.

The 'cash in' value (if you even can) is minimal so not an option.

 

Nige, S1 , Ed thanks for your input

Its currently with Norwich Union which my last company i worked for transferred from Standard life

I did all the paperwork last month regarding Standard Life which still entitles me to have the share options when they demutualise, which according to my ipout is fairly substantial, ie a few grand.

i guess i wil have to wait until maybe august when a decisiono smade to demtualise standard life or not before doing anything