Why move my pension, you ask. There may be many good reasons for moving your pension. You may have changed employers and want to roll the pension over into the new employers plan. Maybe you are not satisfied with the current plan’s performance and/or investment options and are looking for something better. Whatever the reason there are precautions that must be taken to avoid costly mistakes.

Things to Consider

Why move my pension, is a good question. The reasons for moving your pension should be based on sound investment logic and advice. Perform an objective analysis of the current situation and if there are good logical reasons for moving your pension then and only then consider your options and make the best decision, again based on sound investment logic and advice.

It is important to understand all rules and regulations applicable to your pension prior to making a move. For example, in the U. S. the Internal Revenue Service has strict rules governing the transfer of pensions. Make a mistake and your financial future could be severely damaged.

If you have an accountant that prepares your taxes he/she should also be able to help you with your pension transfer to avoid costly errors. Many pensions are now self directed, which means you are more or less on your own making pension related decisions. It is a good idea to find an advisor to help with these important decisions, the advice you receive will be worth much more than the cost.