Workplace Pensions – Changing Jobs

What happens to your pension if you change jobs?

Pensions-AE-Word-CloudYour workplace pension still belongs to you. If you do not carry on paying into the scheme, the money will remain invested and you’ll get a pension when you reach the scheme’s pension age.

You can join another workplace scheme if you get a new job.

If you do, you may be able to:

Ask your pension providers about your options.

Get help and advice

You can get free, impartial information about transferring your pension from:

You can also get impartial advice about workplace pensions from an independent financial adviser. You’ll usually have to pay for the advice.

You can find more detailed information here

Workplace Pensions – Changing Jobs

A workplace pension is a way of saving for your retirement that’s arranged by your employer.

Some workplace pensions are called ‘occupational’, ‘works’, ‘company’ or ‘work-based’ pensions.

If you change jobs

Your workplace pension still belongs to you. If you don’t carry on paying into the scheme, the money will remain invested and you’ll get a pension when you reach the scheme’s pension age.

You can join another workplace scheme if you get a new job.

If you do, you may be able to:

Ask your pension providers about your options.

If you move jobs but pay into an old pension, you may not get some of that pension’s benefits – check if they’re only available to current workers.

If you worked at your job for less than 2 years before leaving, you may be able to get a refund on what you’ve contributed. Check with your employer or the pension scheme provider.

You can find out more details about Workplace Pensions here