Have you moved a company pension

[syrio]

I don't think any IFA is going to say taking a transfer value of £52000 is better than an inflation proofed income of £2200.

You might be able to do better with your funds in a SIPP, but there is no guarantee of that. Really annoying that you aren't allowed to do what you want with your own pension though.

[Cirrus]

I don't think any IFA is going to say taking a transfer value of £52000 is better than an inflation proofed income of £2200.

You might be able to do better with your funds in a SIPP, but there is no guarantee of that. Really annoying that you aren't allowed to do what you want with your own pension though.

Totally agree.

I've given up.

(Actually it's not the worst thing in the world. The markets have got to heady heights swept up by low interest rates, money printing, and frightening levels of global debt. Control and regulation is still next to non-existent despite all the self flagellation over 2008. We could easily have another collapse. A pot of annuity income might look a lot more attractive in those dark times)

[Platypus]

Totally agree.

I've given up.

Just a thought, as it's something I'm thinking of doing myself. I also have about £50k sitting in an old company pension, although I don't think it's DB.

I also have a SIPP. My IFA advised me not to transfer this 50k into the SIPP. I don't remember why.

I've had an idea. I'll do my best to explain, and will probably use all the wrong terms, but I think you'll get the gist.

My circumstances are that I'll probably need to access my SIPP's cash free lump sums before I retire, to buy a property. In this case, in order not to lose the ability to contribute 40k a year to your pension pot (MPAA reduction to 4k), you need to be very careful about not crystallizing your pension.

With a SIPP, I understand that it's possible to access the cash free lump sum using something called flexi-access, and not reduce your MPAA to 4k.

But if I access the cash free lump sum in the 50k pot, I think that will trigger the reduced MPAA and I'll be unable to make further large annual contribs to my SIPP.

My idea is to speak again to my IFA and explain that my priority is to get my cash free lump sum, therefore in that basis, transfer to the SIPP makes sense, and he should be able to advise for it.

It's just an idea...