Right..... Dh has just got a promotion at work and has been invited to join the pension scheme. He works for the local government and we've just spent all afternoon sorting out his old pensions from various employers, with a view to transferring them over to this lgps and have been surprised to find out that the transfer values are roughly about 30k.... 20k of this is a contracting out of serps policy..... Would it be best to leave them where they are OR transfer to the new local government scheme..... and if we do transfer what does the 30k give us.... and does that mean we contract back in????? Am I making sense....
If anyone understands what I'm trying to say can you please answer as if I'm 7 years old, then I might get the gist of what it's all about.............