Has anyone managed to transfer a deffered Defined Benefits pension? I have a very small pension due shortly from, which is from a company I worked for almost 30 years ago. I am eligible for a lump sum and a small pension when I am 60. I have also been offered an enhanced transfer value which means that if I could transfer I would get a lump sum of twice the value of the one from the pension company.
This is by no means my main pension pot, and I really seriously thinking of transferring. As it is over £30K then I need the advice of an independent financial advisor.
I am clear about the implications of transferring a final salary pension, but it really is tiny and I would be happy to take the risk with a SIPP.
My DH has had a reoccurrence of cancer, and I was wondering if I might be able to do something whereby I could draw down some of the pot to give me an income so I could reduce my hours until my other pensions, plus state, come in.
I have had a brief conversation with an IVA today, and tbh it has put me off as he was just so nosy. I don't want all my financial circumstances investigated, not interested in critical illness insurance etc. I am a grown up and I want to take a risk with one small component of my pension.