Pension Value

Hi,

This is probably a basic enough question, maybe even basic enough that I shouldn't need to ask!

My father has a pension with Zurich which was started in Oct 1981. He doesn't know a thing about it, I think it was a case of he took it out and forgot about it.

Upshot of it is that today he got a letter from the brokers he dealt with. The letter says

Current Fund Value ,23602

Current Transfer Value, 32854

Benefit , Life Cover of 14602

We are wondering if that means , if he takes it out today that he gets 23602 but transfers it elsewhere it means he is transferring 32854?

Thanks

Mike

Are you sure that the transfer value is higher than the current value? Usually it's the other way around.

He's probably invested in the SuperCapp fund where the transfer value is higher than the nominal value. It's a with profit fund that once it's been held for more than 5 years would have a special dividend, hence the higher transfer value. You can get more info on the fund here [broken link removed]

Thanks lads,

I double checked and as Shaking said it is a SuperCapp thingy. Going to have a look at that link now and see what the craic is on that

Cheers