LEGAL & GENERAL.TRANSFERING PENSION
Discussion
Hi all, I have had a letter from L&G concerning a pension.
They are proposing to transfer pensions to a company called ReAssure ltd.
Has anyone any experience with this company and was it good or bad?.
Seeing as it is a dormant pension and I need to find out its actual transfer value should I now be considering transfering to my active pension or to some other investment?
I know nothing is ever straightforward with these matters so any additional information will be most welcome.
The pot is around the £25k mark.
Many thanks in advance.
They are proposing to transfer pensions to a company called ReAssure ltd.
Has anyone any experience with this company and was it good or bad?.
Seeing as it is a dormant pension and I need to find out its actual transfer value should I now be considering transfering to my active pension or to some other investment?
I know nothing is ever straightforward with these matters so any additional information will be most welcome.
The pot is around the £25k mark.
Many thanks in advance.
All companies do this regularly.
They move dormant pensions to what are basically holding companies, and it just grows albeit slowly.
If you want it to work for you it's better to move it somewhere else, but check for withdrawal and new business charges.
On a positive note I found a pension I didn't know I had (stopped paying I to it in 2002, only started in 1999).
Only found out because Aviva contacted me (I didn't have an Aviva pension it was a dormant friends life policy).
Upshot is I have suddenly got an extra 3k I didn't know I had.
I'm not going to get rich from it, but it'll buy me some beers and petrol - though obviously not at the same time
They move dormant pensions to what are basically holding companies, and it just grows albeit slowly.
If you want it to work for you it's better to move it somewhere else, but check for withdrawal and new business charges.
On a positive note I found a pension I didn't know I had (stopped paying I to it in 2002, only started in 1999).
Only found out because Aviva contacted me (I didn't have an Aviva pension it was a dormant friends life policy).
Upshot is I have suddenly got an extra 3k I didn't know I had.
I'm not going to get rich from it, but it'll buy me some beers and petrol - though obviously not at the same time
keirik said:
All companies do this regularly.
They move dormant pensions to what are basically holding companies, and it just grows albeit slowly.
If you want it to work for you it's better to move it somewhere else, but check for withdrawal and new business charges.
On a positive note I found a pension I didn't know I had (stopped paying I to it in 2002, only started in 1999).
Only found out because Aviva contacted me (I didn't have an Aviva pension it was a dormant friends life policy).
Upshot is I have suddenly got an extra 3k I didn't know I had.
I'm not going to get rich from it, but it'll buy me some beers and petrol - though obviously not at the same time
Not really true, I think you might be confusing With-profit and unit-linked pensions - they cannot change the investment strategy for a DC pension without your approval. They move dormant pensions to what are basically holding companies, and it just grows albeit slowly.
If you want it to work for you it's better to move it somewhere else, but check for withdrawal and new business charges.
On a positive note I found a pension I didn't know I had (stopped paying I to it in 2002, only started in 1999).
Only found out because Aviva contacted me (I didn't have an Aviva pension it was a dormant friends life policy).
Upshot is I have suddenly got an extra 3k I didn't know I had.
I'm not going to get rich from it, but it'll buy me some beers and petrol - though obviously not at the same time
Jarcy said:
I got the same letter, but my pension is still active.
Considering how badly the pension performed last year, I'm sort of glad to give ReAssure a go at improving the investment performance.
I must take a look and see whether there are any annuity guarantees too.
Is this a with-profit policy?Considering how badly the pension performed last year, I'm sort of glad to give ReAssure a go at improving the investment performance.
I must take a look and see whether there are any annuity guarantees too.
What was the performance and how did it compare to benchmark?
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