Should I leave my ‘with profits’ pensions where they are or move them?

should i leave my with profits pensions where they are or move them

Sumary of Should I leave my ‘with profits’ pensions where they are or move them?:

  • I have three small pension pots and don’t know whether to combine them or leave them as is.
  • I am 56 and not thinking of using them until I am at least 67.The pensions are:1. Scottish Widows with profits transfer value £15,0002. Standard Life with profits transfer value £39,0003. Legal &
  • General multi asset fund £7,000 Retirement finances: Should I leave my ‘with profits’ pensions where they are or move them into another combined pot?
  • Someone told me that with profits pots are hindering my fund and I should move them into a fully flexible Liverpool Victoria account but it will cost me £2,500 to do this.
  • SCROLL DOWN TO FIND OUT HOW TO ASK STEVE YOUR PENSION QUESTION Steve Webb replies: Large numbers of so-called ‘with-profits’ policies were sold years ago, and those who still hold these old-style policies need to understand how they work and think very carefully before cashing them in.
  • Steve Webb: Find out how to ask the former Pensions Minister a question about your retirement savings in the box belowIn brief, when you put money in a with-profits pension or investment it is invested across a range of assets in the usual way.
  • By smoothing in this way, the value of your policy will generally rise much more steadily than if it exactly the tracked the underlying value of the investments.
  • Given that you have said that you don’t plan to use these funds for another decade, this would be a good reason to think very carefully before you consider transferring out.

Want to know more click here go to source.

From -

Close
Generic selectors
Exact matches only
Search in title
Search in content

Site Language


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close