Do you have a frozen previous Personal Pension plan or multiple plans, many people do?
This is where you were paying into a personal pension plan then stopped. Maybe you then started another one and still have it or stopped that also. Many people opted out of SERPS in the 80’s and 90’s which was sold as being free at the time and these pension plans can be worth a good deal depending upon how long they were active and what funds were selected at the time. Rules for these have changed over the years which could be to your advantage now. Many people also can have past company schemes also. There is good mileage in looking at all of your different pension pots and seeing if it is beneficial to combine all of them or some of them and do some serious retirement planning.
Reasons to Switch.
- You may have several pensions with several insurance companies and wish to combine these into one single plan so it is easier to manage.
- You have some plans but have no idea what you have got and wish to review all of them and see what is the best course of action.
- You opted out of SERPS years ago, have no idea what funds it is in and wish to review it.
- You have several small pension pots with different companies and the funds are being eroded by charges or maybe the plans are old style pensions.
- You have a pension policy, the fund is traditional with profits and you wish to change it but can’t unless you switch to another plan.
- You are not satisfied with the company that your pension is currently with and wish to switch pension providers.
- Do you know what the pension policy or policies are going to give you at retirement money wise?
- Do you know what funds you are invested into and is it in line with your attitude to risk?
- Do you know what the charges are for the policies you have? By combining these you could reduce insurance company charges.
- Do you know if you previously opted out of SERPS & S2P and have a pension policy containing this fund?
- Are you under the age of 55. If so then you can transfer your plans into a single modern plan and contribute if you wish into this plan. You can do this also if you are over age 55 but do not wish to access any of the funds or Tax Free cash at that time either.
- The earliest you can access any Pension money is age 55 where you can have the Tax Free Cash and have income options if you wish or access to the capital.
- Have you applied for a state pension forecast yet? We can help with that.
- We can find out all of this for you for free, yes free. You will need to contact us.