Moved job: what to do with the pension?

So, I moved from a permanent pensionable job (After almost 4 years there) to a lower paid 6 month contract (health & sanity reasons). Just got a Zurich letter in the post telling me I’ve a E7k+ pension pot, and asking me what to do with it.

What should I do?

-I could do with 1-1.5k to square off some bills, but it looks like that’s a major no-no since I’m 35, and the ways I’ve seen to get that money out look *well* dodgy.

-By the looks of it I’ve the option of a PRSA. How does one set that up? Is it a better option than leaving it where it is until 2049?

Henry Ford III

Get proper advice

Henry Ford III

Henry Ford III wrote: »

Get proper advice

I have 39.50 between now and wednesday.

It’ll be 3-4 weeks before that gets into 3 figures after my weekly bills. Change that to months if the expected medical procedure I need comes to a bad outcome.

Where?

I have nothing for the bacon-slicer fee structure that “proper advice” uses, but hey, us moneyless deserve to lose our money.

Pay fees for good advice or pay over the odds because we’re stupid.

Either way, Big Money & its servants always wins.

And, to be clear, I’m not looking for something that the bacon-slicers would say. I’m looking for people who are/have been in a similar situation and/or those who have a general idea of my options who can help. I take such suggestions as they are, and do not intend to make financial decisions without thoroughly researching the options mentioned beyond their mention here.

daheff

One of your options is to leave it where it is. I'd advise doing that until you make a longer term decision. You won't be able to add to that pension fund, but you can set up another and add there. Later on in life you can consolidate if you want to .