Company Pension - About to liquidate ltd company

[WGT]

Hi,
I'm just about to get my ltd. company liquidated.
I have a directors pension with the company as the trustee.
Here are the details.
Contributions since Feb 2001: 83,469
Transfer Value of Fund: 50,916

Can I seamlessly transfer this into say a "Buy Out Bond" or "PRSA" without realising the paper loss of 33k (as detailed above).
Can I also continue contributing as before (the only difference being that I am the owner and not the limited company?

 

[StevieC]

Your transfer value is the value of the fund. There is no way to get around the fact that the fund has performed horribly compared to what was contributed.

If you move it to a Retirement Bond, this will be a once off payment and you will not be able to make further contributions to the fund.

If you move it to a PRSA then there is scope for making further contributions.

You could also just leave the company pension "paid up" and hope that the fund recovers somewhat. I always think that taking a transfer value undervalues the value of the fund as generally there is some actuarial equation involved in working out the transfer value. It may be just better to let the existing fund mature there.

Then your options would be to talk to an independent broker and ask them to do personal pension and PRSA quote comparisons for you to find out what would give you the best value long term as sometimes a personal pension can outperform a PRSA due to lower management charges.