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Pension fund closing - help!

2 replies

TheGirlOnTheLanding · 29/03/2015 08:15

DH has two private pensions, one was from a previous job which his ex employer contributed to, and his current one which he started because his current employer does not contribute. He received a letter to say the company which runs his old pension fund is winding up, and his options were to transfer to another fund, leave as a deferred pension or take cash. Initially we thought he'd be best to transfer to his current pension as he's nearly fifty but on enquiring was told they didn't take additional funds like this and in fact are not accepting new business either, which makes us concerned that that fund isn't being actively managed either.

So it looks as though we either have to very quickly set up a third pension, leave a small deferred pension pot or an even smaller cash sum. Where is best to quickly find out about our best options?

OP posts:
ispyfispi · 29/03/2015 22:17

I would suggest seeing an IFA with regards to move both to one single pension on an online platform such as Nucleus

TalkinPeace · 30/03/2015 21:11

definitely talk to an IFA

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