I have a pension from my old employer. Nothing has been paid into it for the last 7 years. I recently got a statement and the current fund value is about £20000. Other than transferring into my pension with my current employer, can pensions be transferred into any other type of investments? Unit trusts etc..

I thankyou

I’m no expert but I believe the answer is yes. You can go and buy gold and all sorts with it.

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/8323361/Gold-plated-retirement-plans-now-you-can-include-bullion-in-your-Sipp.html

Many, like me, have Hargreaves Lansdown SIPPs; very easy to transfer into and use.

Many, like me, have Hargreaves Lansdown SIPPs; very easy to transfer into and use.

Just having a read up about SIPPs.

Ask these people
http://www.pensionsadvisoryservice.org.uk/

I have an HL SIPP. It’s a nice and easy way to supplement your company pension.

IMO it makes sense to have a couple (at least) of different pension providers/plans, in case one has a problem.

You can transfer that pension pot to another scheme/manager. You cannot just transfer it to unit trusts outside a pension without it being taxable (which doesn’t make sense). You can transfer it to a pension provider which allows unit trust investments or a more flexible SIPP – Self Invested Personal Pension.

I have 3 separate schemes with 3 different providers, in general the employer picks a pension fund manager/provider and they manage it so in such a case there isn’t a requirement to move your pension once you leave a job.

I assume it’s a defined contribution type scheme, if it’s defined benefit (e.g. final salary) do not move it