Should I transfer my current work pension to the new NEST scheme?

Helen_1_2

Hi,

I'm lucky enough to already have a work based pension which has been running for a good 10 years. The payments my employer contributes is above the minimum required by the new auto enrollment rules. Should I try and transfer this pension, keep running this pension or will it automatically stop and the NEST one start?

Getting a little confused as to what my options are. Thanks.

Paul_Herring

Helen_1 wrote: »

Hi,

I'm lucky enough to already have a work based pension which has been running for a good 10 years. The payments my employer contributes is above the minimum required by the new auto enrollment rules. Should I try and transfer this pension, keep running this pension or will it automatically stop and the NEST one start?

Getting a little confused as to what my options are. Thanks.

Employers who already have a scheme in place that is as good as or exceeds NEST are not required to suddenly stop them and replace it with NEST, so you may not have to do anything and simply continue to do what you've done. (Unless this has prompted you to take more interest in it...)

But the best source to ask would be your own personnel or finance department (whichever deals with pensions.)