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pension

bonniemac Avatar
7y, 7m agoPosted 7 years, 7 months ago
hi my hubbys old work is asking the workerss to transfer their pension to somewhere else and they will give an incentive to do that. he only has 11 years to go, is this a good idea in this climate he worked for his previous company for 35 years before they wre bought over
bonniemac Avatar
7y, 7m agoPosted 7 years, 7 months ago
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Comments/page:
#1
You've not given enough information to give a definitive answer.

If anyone was to advise you it would just be a guess
#2
makes me think negatively - why do you need an incentive - forget the incentive - does it look better?

do some research on the new company on the internet


i think you know the answer! go with your gut feeling.
#3
no sorry i did not explain properly, his pension has been frozen and the old company are asking him to transfer the pension to one of his own choosing for the next 11 years. they are making a incentive available
#4
Go an see a IFA
#5
Benson's Bargain
Go an see a IFA


+1 tbh
You don't want to be messing with your pension without solid advice.
#6
I think you will need to find the transfer value of your old pension first.

Then if you leave it frozen, what it will pay out when you retire.

On the new pension how much you will pay per month and what that will pay out,

Then if you transfer your old pension to the new one how much wil this payout.

It could be that it might be better having 2 pensions or combining them and just having 1, but you will need pensions advice from a expert.

If you are in a union they may have a pensions advisor that you could ask for advice (not sure if they would charge for this service though)
#7
Jetpac
+1 tbh
You don't want to be messing with your pension without solid advice.


+2

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