T
true_blue
Guest
Hi Folks,
I have a question just regarding an old pension i had,i had a pension with my old job in 2000 to 2002. Both me and the employer contributed to it, now i have been lazy and havent got round to tieing up my loose ends till now!!
So i looked into the policy that i have and its pretty bad and has performed bad for me, management fees of 2% a year and 5% contribution fees and return of 3.3% a year. So at 2% management fees i want to move it, better deals around now!! There is no penalty for me moving it.
So here is my problem, im not in the country and probably will not return for the forseeable future. So question is where is it best to move it to?? Cashing it is not an option, if i cash it i must give half back to employer and then pay tax at 20% on the rest.So out of 10g that leaves me with 4g! so loss of 6 straight away on that option.
So what alternatives would people recommend for it, i wont be contributing to it for now or any time in the forseeable future so it will be just sitting there.
any thoughts are welcome.
Thanks alot,
true_blue
I have a question just regarding an old pension i had,i had a pension with my old job in 2000 to 2002. Both me and the employer contributed to it, now i have been lazy and havent got round to tieing up my loose ends till now!!
So i looked into the policy that i have and its pretty bad and has performed bad for me, management fees of 2% a year and 5% contribution fees and return of 3.3% a year. So at 2% management fees i want to move it, better deals around now!! There is no penalty for me moving it.
So here is my problem, im not in the country and probably will not return for the forseeable future. So question is where is it best to move it to?? Cashing it is not an option, if i cash it i must give half back to employer and then pay tax at 20% on the rest.So out of 10g that leaves me with 4g! so loss of 6 straight away on that option.
So what alternatives would people recommend for it, i wont be contributing to it for now or any time in the forseeable future so it will be just sitting there.
any thoughts are welcome.
Thanks alot,
true_blue