Small DB Pension Transfer or not?
Posted: March 12th, 2019, 7:28 pm
Hi There
I have a really small DB pension from an employer many moons ago and I recently looked into transferring it out of the current scheme and into a SIPP that I have already.
However after doing a bit further research I'm not quite sure whether its a good idea, its CETV was only sub 20k so I don't legally have to get IFA involved but as its very small is it worth doing at all?
Of course ultimately its my decision what I do but I wonder what anyone else would do in this situ, as I far as I know there is no benefit loss and there are no fees for the transfer and its roughly 66 x income.
I'd be grateful for any views on this.
I have a really small DB pension from an employer many moons ago and I recently looked into transferring it out of the current scheme and into a SIPP that I have already.
However after doing a bit further research I'm not quite sure whether its a good idea, its CETV was only sub 20k so I don't legally have to get IFA involved but as its very small is it worth doing at all?
Of course ultimately its my decision what I do but I wonder what anyone else would do in this situ, as I far as I know there is no benefit loss and there are no fees for the transfer and its roughly 66 x income.
I'd be grateful for any views on this.