Reidy's Bottle Of Grecian
The Unobstructed View
Pension Transfers with an enhancement.
I have an 'arl pension that I only paid into for 4 years (with I.M.I.), they have just written to me offering an enhanced transfer value, with the option to take the enhancement as cash.
Whatever I have found online seems to point at it being a scam type thing that is far more in the companies benefit than the pension holders.
Anyone had any experience of this ?
as I say it aint worth much, £525 a year, and I am having a few grand dangled in front of me, which given my current status would make a marked difference.
I know that it's a definate amount with the scheme I'm on and changing it to the default one set up wouldn't be, but given that it's such a low amount I'm not sure that it's that much of a gamble.
I'd pay tax and NI on the sum, and would lose some of it from my tax creds, but would still be a few grand better off, I know it would be said that it is just a short term fix, but given the amounts I can't see how I can pass it up.
I have an 'arl pension that I only paid into for 4 years (with I.M.I.), they have just written to me offering an enhanced transfer value, with the option to take the enhancement as cash.
Whatever I have found online seems to point at it being a scam type thing that is far more in the companies benefit than the pension holders.
Anyone had any experience of this ?
as I say it aint worth much, £525 a year, and I am having a few grand dangled in front of me, which given my current status would make a marked difference.
I know that it's a definate amount with the scheme I'm on and changing it to the default one set up wouldn't be, but given that it's such a low amount I'm not sure that it's that much of a gamble.
I'd pay tax and NI on the sum, and would lose some of it from my tax creds, but would still be a few grand better off, I know it would be said that it is just a short term fix, but given the amounts I can't see how I can pass it up.
