Found 23rd Apr 2010
Hey all

I have 2 company group pension plans from previous companies.

As i have left both companies the pensions are frozen and i want to move them to an active pension.

Moving is not an issue but i do not know what type of pension scheme to go for.

Any advice?

Cheers in advance.

  1. Misc
  1. Misc

do you have to have a pension plan as i dont ever want one

i work in a pension company and i would be reluctant to move them as they will be invested in different funds. If one of the funds don't do as well in your current policy you will still have the back up of the previous companies. Sometimes it's better to have your funds in different pots. The inactive policies will still be making money for you as they usually go into riskier funds at the start and then as the policy reaches maturity they go into safer ones. It's up to you but putting all your eggs in one basket might be a bit riskier. Hope it helps

Original Poster


even though i am not with the previous companies and even though the 2 schemes are FROZEN you stating i should leave them in their and open a new one?

If so, what should i go for?

Also, being frozen does that just mean i cannot put additional money into the 2 old plans?

You can transfer the old plans but as i said they are making you money and you can't add to them.

If your current work has a pension scheme i would suggest going into that. If you're now self employed i would look at the current leaders in pensions or speak to an IFA. If you get the advice free from the IFA, take it then take out the policy yourself as they'll take a cut or get a commission from the policy seller which will cost you in the long run, it may not be a lot of money but it's better in your pocket.

Original Poster

cheers bud - i am now a contractor

i will leave the 2 ex company schemes as they are and will look at a new pension.

Still dont have a scooby doo which direction to go plus seeing an IFA is hard as i leave home @ 7am and dont get back until 7pm the earliest.

They'll come and see you in your house but don't sign anything do it yourself if you can.


do you have to have a pension plan as i dont ever want one:?:

Nothing to say you have to have one at the moment but....…tml
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