Higher Protected Lump sum rights

[Gio G]

Hi all,

Appreciate some advice please.. In the process of consolidating lots of different pension funds and have found a fund which has Protected Lump sum rights higher than the 25%. Based upon today's value, it allows nearly 50% of the fund tax free cash at pension age.

Are these types of funds with these benefits best left alone or do most people just transfer them? The fund itself is worth around 10% of my total pension fund, so not a huge amount, however cannot make my mind up what to do with it. Clearly advantages are new schemes are easier manage and provide certain benefits that this fund does not, as this fund is over 15 years old.

Anyone been in this situation, having this type of fund? Sorry if this sounds vague, clearly not an expert..

G

[PurpleMoonlight]

Pension Commencement Lump Sum >25% protection is scheme specific. So if you wish to retain it you will need to leave the pension where it is.

But, the additional PCLS is only 2.5% of your overall and I would guess that the charges are relatively high to modern contracts.

Edited by PurpleMoonlight on Friday 5th October 11:35

[Gio G]

PurpleMoonlight said:

Pension Commencement Lump Sum >25% protection is scheme specific. So if you wish to retain it you will need to leave the pension where it is.

But, the additional PCLS is only 2.5% of your overall and I would guess that the charges are relatively high to modern contracts.

Edited by PurpleMoonlight on Friday 5th October 11:35

Yes indeed, the charges are not doubt lower if I moved it with my other pensions. I may just consolidate it with the others..

G