As of 2018 it has been compulsory for every company in the UK to automatically enroll its eligible staff in a workplace pension scheme.
- As an employee, if your work status changes for example, if you’re changing jobs or become self-employed, it will affect your pension, leaving you with several options.
- When you leave your employer, you do not lose the benefits you have built up in a pension and the pension fund belongs to you. As with all pensions, you have several options available to you when you leave your employment.
- It is important not lose track of your pension plans and to keep an up-to-date record to hand. It’s also important to ensure that the expression of wishes (where you state who will receive your pension funds if you die) is in place for each one of your schemes and to keep the pension provider informed of your new address when you move.
- Moving all of your pensions into one simple plan can help you keep track of how your savings are performing. Rather than managing multiple pension pots, a Financial Adviser can help you take control of your savings by bringing everything together in one place.
- If you’ve changed jobs and remember paying into a pension at your previous workplace, it’s likely you’ll have an old pension there. You could find out more information about this by checking back through old payslips.
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