Changing Pension Provider

[matt666]

I've recently changed jobs, I was paying into a Friends Life scheme with my last job, the new job is a Scottish Widows scheme. I've amassed a pension pot with Friends Life but there will be no more payments into that account, all my future payments go to the new Scottish Windows account.

I'm just wondering what's best, and even possible, to do with the Friends Life pot. Leave it where it is, transfer it to the Scottish Widows account, or something else?

Cheers

[RichB]

All those things are possible. You need to find out how the Friends Life fund is performing against average, what their annual charges are and if there is any penalty for moving it if you decide to do so. The only real reason to move it is if you think you will get better return on your investment elsewhere.

[JulianPH]

Also check to see if the old scheme has an "Active Member Discount". This is backwards insurance company speak for "Non Active Member (i.e. you now) Price Hike"!