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Existing Pension Transfers
Whether or not you are eligible to pay contributions, you may wish to transfer any benefits which you have already earned in another pension scheme to a SIPP. The reasons for doing this are quite varied and may include some of the following:
- you wish to move benefits away from ex employers and keep them under your own control
- you have several “frozen” pension benefits which you want to consolidate in one place
- you value control and want to have your benefits in one place where you control the investment
- you believe that you and/or your advisors can produce a better growth on the existing funds than people who currently control them
- to use as the deposit for a commercial property
and, from April 2006, a residential Buy-to-Let property
- you are unhappy with the pension management support of your current provider
In these situations a transfer can normally be made to a SIPP. If transferable benefits are already held in flexible investments, then these may be transferable and an encashment may not be necessary. For further details or clarification, please contact us. |
