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If you have been a member of a previous employers pension scheme and have since left employment you become a deferred member of that scheme. 

 

As a deferred member you can decide to 

If you want to access your fund and are aged 49+ then please go to Access Pension from Age 50.

Before you decide whether or not to transfer your fund you first need to know how your pension fund is performing. It’s foolish to make any changes before you know how your pension is performing.

 

Our Financial Advisors offer a free pension health check to provide you with a full detailed report on your pension. We will look at this in more detail shortly.

 

Once you have this information you may decide to leave your fund in the existing scheme. This would be the norm if your fund is performing strongly with reasonable to low pension charges. 

If you have a pension fund with your existing employer you can combine your previous fund/funds in your new employers pension scheme. 

 

It is a good idea to see how your existing employers pension fund is performing before deciding whether or not to transfer your previous pension in. 

 

To do this we suggest carrying out a review on both your old pension and your existing pension with your new employer. This allows you to compare the fund performance of both before deciding whether this option may be suitable for you. 

You may decide to transfer your fund into a personal pension so control where your money is invested.

You can decide to invest in funds chosen by you to suit your needs which is not an option if choosing to leave your fund in an employer pension scheme.

 

You also have more flexibility in accessing your pension once your turn 50 if this is something which may interest you. You don’t have to access all of your pension, you can take a lump sum of your choice and invest the remainder in your chosen fund.     

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