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Original poster

Pension - what to do with it when I become a SAHM

10 replies

Bella23 · 17/05/2006 14:59

I am planning on giving up work in August to become a SAHM. I have a pensionw which I have been paying into for the last 10 years (including company contributions)
What shall I do with this now? Do I just freeze it whilst I am not working or do I get DH to put some of his salary into it.

What have you done when you became a SAHM?

OP posts:
Original poster
Bella23 · 17/05/2006 15:22

Bump.....anyone?

OP posts:
Pruni · 17/05/2006 15:25

This was an issue for me but I found that I couldn't put more than a certain amount in and only for a v short time, so I left it.

Gingerbear · 17/05/2006 15:25

If it is a personal pension and you can afford to, keep paying into it.
(I am not a pensions advisor; I work part-time and in a company scheme with AVC - I kept paying into AVC when on non-paid mat leave)

nailpolish · 17/05/2006 15:25

i have a really good pension with the nhs and i wanted to carry on contributing but for some reason it wasnt allowed, so i have just left it frozen

do you think you may go back to work at some point? would it be for the same company? you could then continue with the pension, obviously

my nhs pension is the only one i have and it still worries me what to do with it

my dh has had 4 different jobs and he has 4 different pensions with each of these companies and its getting a bit complicated

good luck

Gingerbear · 17/05/2006 15:26

Think the rules have changed now, since the pensions shake-up in April.
Can everyone, working or not, pay into a stakeholder?

nailpolish · 17/05/2006 15:29

the mere thought of pensions makes me want to scream til my head explodes

Original poster
Bella23 · 17/05/2006 15:30

Thanks ladies.
Yes I can take the stakeholder pension with me and freeze it but I am just thinking that it means that DH keeps his pension topped up and mine is not.
So I am guessing some people pay into it even when they are not working ie get their partner to pay it on their behalf.

This is the first time I will ever not have worked, I am guessing sense is telling me to get DH to pay into it in the short term, see how we get on financially and then if I return to work will continue it myself

OP posts:
Original poster
Bella23 · 17/05/2006 15:31

Nailpolish - sam here, the mere mention of the bloody thing makes my mind switch off!

OP posts:
emily05 · 19/05/2006 19:32

Just saw this - when I gave up work my company pension froze.

I have since taken up a stakeholders pension with Virgin. I can pay in as much a I like a month and anybody can take one out. It is really good.

Charlene1 · 25/05/2006 20:05

Hi, I have a frozen company pension from years ago (worked in public sector), and I can transfer it to any future pension. I can't get it back now, but if I wanted to, I can transfer and then cash it in during the first month of the new one. Or I can leave it there and start a new one. So I'd have 2 private and the state ones when I retire. (They just send a statement now and again, calling me a "preserved pensioner" - which dp thinks is hilarious!!!)

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