Private pension

fire_man

I have a private pension going back a number of years.The employer at that time was not contributing. I have another pension with current employer who are contributing.
Is it worth paying into old pension as it seems to be doing well year on year?Have 20 plus years to retirement.

homer911

You are a deferred member of the old pension, you cannot add to it

fire_man

It was a personal pension plan set up myself so wasn't with company.Presumed I could just keep paying into this.

Ruggabugga101

fire_man wrote: »

It was a personal pension plan set up myself so wasn't with company.Presumed I could just keep paying into this.

Have you asked the pension administrator?

They should be sending you annual documentation so contact details would be there.

AndrewJRenko

Compare the fees you are paying with your old pension with the fees payable if you were to take out a new pension.

Henry Ford III

fire_man wrote: »

It was a personal pension plan set up myself so wasn't with company.Presumed I could just keep paying into this.

If you are employed and a member of a pension scheme with no other income you wouldn't be eligible to contribute to a PPP.

Look at an AVC instead.

The J Stands for Jay

fire_man wrote: »

It was a personal pension plan set up myself so wasn't with company.Presumed I could just keep paying into this.

You can contribute to the personal pension, bit you wouldn't be able to claim tax relief, so it'd be a bad idea as you would be contributing post tax funds, and then you'd be taxed again when you take the benefits other than the tax free cash.

fire_man

Thanks guys. Cleared it up for me.

TheBlock

Maybe Transfer it to current pension. That's want I done with previous plans. Like to keep it all in one place in case of anything unforseen NOK will know its all t in one spot.