Old Workplace Pension Help

dannywaugh1

dannywaugh1

dannywaugh1

Associate
Joined
21 Jul 2007
Posts
1,192
Location
Newcastle upon tyne
Hi all,

I have an old workplace pension which I am not paying into as I do not work for the company anymore and cannot transfer into my current employer workplace pension. I have been told the best way for me to pay into it is to transfer it into a personal pension plan, but I have no idea where to start in terms of personal pension plans.

I have done a little research, but it is a little overwhelming, the pension I am referring to is with Legal and General and they also to personal pension plans.

Any advice / tips welcome.

Thanks!
 
dannywaugh1 said:
Hi all,

I have an old workplace pension which I am not paying into as I do not work for the company anymore and cannot transfer into my current employer workplace pension. I have been told the best way for me to pay into it is to transfer it into a personal pension plan, but I have no idea where to start in terms of personal pension plans.

I have done a little research, but it is a little overwhelming, the pension I am referring to is with Legal and General and they also to personal pension plans.

Any advice / tips welcome.

Thanks!
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Why on earth can't you transfer into the current plan? Sounds odd to me.

Any reason why you can't just hang onto the old pension plan without paying into it? Should still grow nicely over time...
 
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Do you want to pay into your old pension considering you’ve a new one with your current employer? If not then just leave it where it is unless you’re desperately unhappy with its performance.
 
My old work pension was closed down as we were bought out and the new parent company had a different pension provider. Old was Royal London, new was Black Widow. We were advised that the old pension would be closed and would just sit there not earning and not costing us anything so were recommended to transfer the balance into the new one so it could start working again. This was as simple as telling Black Widow the policy number and name and amount in it.

If you know the policy name and number any pension provider should be able to take the money from it into their own system.
 
It's a while since I did it but I had an old work pension that I trasferred to a Vanguard SIP, Was pretty easy, I think Vanguard did most of the work. I am sure other providers would offer a similar service.
 
pepp77 said:
My old work pension was closed down as we were bought out and the new parent company had a different pension provider. Old was Royal London, new was Black Widow. We were advised that the old pension would be closed and would just sit there not earning and not costing us anything so were recommended to transfer the balance into the new one so it could start working again. This was as simple as telling Black Widow the policy number and name and amount in it.

If you know the policy name and number any pension provider should be able to take the money from it into their own system.
Click to expand...

You've got a Black Widow Pension? That does not sound like a reassuring name...
 
I had 2 x old workplace pensions, i was able to successfully transfer them in to my current work place pension

the old pensions were with Aegon, I done a transfer from the Aegon pensions in to the one I am in now with my current role (who use Legal and General)


it is a thing.but check the small prints and speak to the providers , some larger pots may encounter fee's if your transferring,
 
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