Lloyd90 Posted August 11, 2016 Report Share Posted August 11, 2016 Could anyone tell me what happens to company pensions when you move company ? I worked for around 10 months for the university, only making just short of £600 a month but have paid in small amount to the pension scheme. I have no left and just wondering what happens to that money ? Quote Link to comment Share on other sites More sharing options...
loriusgarrulus Posted August 11, 2016 Report Share Posted August 11, 2016 Could anyone tell me what happens to company pensions when you move company ? I worked for around 10 months for the university, only making just short of £600 a month but have paid in small amount to the pension scheme. I have no left and just wondering what happens to that money ? You can normally have it transferred to your new employers pension scheme or leave it as a deffered pension till you retire and claim it then.Usually transfering it is best, but you need to check which will give the best deal long term. Quote Link to comment Share on other sites More sharing options...
oowee Posted August 11, 2016 Report Share Posted August 11, 2016 If its a small amount it could well have been paid back to you at the end of your working term. If you have not had it you can contact the administrators and ask for a transfer value to move it to your current arrangements. Quote Link to comment Share on other sites More sharing options...
hawkeye Posted August 11, 2016 Report Share Posted August 11, 2016 And with only been there a few months some pension transfer companies will not accept if it is only a small amount... Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted August 11, 2016 Author Report Share Posted August 11, 2016 (edited) Thank you gents, I will have to email the HR and ask them to advise. In the mean time I might not have a job for a year, as doing final year of uni... Will that matter ? Obviously I won't have anywhere to transfer it to ... Edited August 11, 2016 by Lloyd90 Quote Link to comment Share on other sites More sharing options...
AVB Posted August 11, 2016 Report Share Posted August 11, 2016 (edited) Having a small amount invested when you are young is far better than investing far larger amounts later due to compound growth. Whatever you do don't cash it in. You can open a self invested pension plan (SIPP) if you want and transfer it to that. Edited August 11, 2016 by AVB Quote Link to comment Share on other sites More sharing options...
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