If you are a number of years from retirement you may think this sounds like a good idea but you would prefer to wait and see how things go.
This is why you shouldn’t wait to take the first steps:
- If your scheme is closed to new members the transfer value has more chance of falling than increasing.
- You can preserve what you have now and place it somewhere where you have more control.
- You can protect your legacy for your spouse and dependents.
- You can use some of the funds to meet costs now e.g. children’s university fees, paying off a mortgage or paying for a child’s wedding.
- You can provide an option for early retirement where the company pension does not.