B
blantyre
Guest
Hi ,
I was a contractor and I setup a directors pension (basically set up because previous employer (when I was PAYE) never offered us a pension). Now thanks to the good old recession I was given the boot and after a long period managed to get another job and the pension was on hold. In other words I got a P45 and hence the pension had to be suspended. I now have an options document and I dont know what to do with the pension.
Options (there are about 4 or 5 - havent it in front of me) in a nutshell are to transfer it (e.g. to a PRSA) or I put it into some kinda of bond and terminate it.
Just wondering if anyone has advice on the best option moving forward. I havent got any Pension fund I could move it too or is it worth setting one up etc. What have others done?
I was a contractor and I setup a directors pension (basically set up because previous employer (when I was PAYE) never offered us a pension). Now thanks to the good old recession I was given the boot and after a long period managed to get another job and the pension was on hold. In other words I got a P45 and hence the pension had to be suspended. I now have an options document and I dont know what to do with the pension.
Options (there are about 4 or 5 - havent it in front of me) in a nutshell are to transfer it (e.g. to a PRSA) or I put it into some kinda of bond and terminate it.
Just wondering if anyone has advice on the best option moving forward. I havent got any Pension fund I could move it too or is it worth setting one up etc. What have others done?