Transferring old pensions into single

aimeemum

Hi, My husband has a workplace pension supplied via Aegon/BlackRock. He also has an old pension from the same workplace but it has completely different references and no supplier listed. He was contributing for 2 years but stopped in 2010. I have tried calling but can never get through to either number on the documentation - long queues. If I can get hold of them how do I go about transferring the old pot into the new pot? What is the procedure?

He left that job in 2010 to train to become a teacher, and did 1 year in school (2015/16) before leaving to go back to his old employer. We therefore have a years worth of teacher pension contributions that I'm unsure how to track down or even if he can transfer them out to join his current workplace pension. He's happy where he is and is unlikely to leave in the next 2-3 years but he will in all likelihood return to teaching in the future so would it be best to leave the teacher pension where it is? Is it even possible to transfer them all into one pot?

Thanks in advance

SonOf

He also has an old pension from the same workplace but it has completely different references and no supplier listed

Could that be because it is a defined benefit scheme? (does it mention years of service and has no mention of investment funds)

If I can get hold of them how do I go about transferring the old pot into the new pot? What is the procedure?

You need to find out what type of scheme it is first as the methods will depend on the scheme type.

We therefore have a years worth of teacher pension contributions that I'm unsure how to track down or even if he can transfer them out to join his current workplace pension.

When he left, he was probably given the opportunity to take back the contributions due to short service.

so would it be best to leave the teacher pension where it is?

You cant transfer the teachers pension. So, no choice in the matter.

aimeemum

Thank you - I got through to the current pension scheme who have given me a number for the company who hold the records for the old scheme. It doesn't mention anything about length of service - just a balance/value for the fund as it was back in 2010 (when we got the letter originally). I will get my husband to give them a call and get an up-to-date statement and see if we can find out what it is.

As for the teacher pension - he definitely didn't take a lump back out of it. I can't find any paperwork at all about it. I've been told (by a friend who is a teacher) that he can log on online to the scheme using his teacher number so that's another job for him.

Thanks for taking the time to reply. It's all a bit messy but hopefully not for much longer.

Dox

aimeemum wrote: »

I have tried calling but can never get through to either number on the documentation - long queues. If I can get hold of them how do I go about transferring the old pot into the new pot? What is the procedure?

Write to them - or if there is a contact form on their website, use that.

nigelbb

SonOf wrote: »

When he left, he was probably given the opportunity to take back the contributions due to short service.

With only one year of service the contributions may have been automatically refunded.

Silvertabby

nigelbb wrote: »

With only one year of service the contributions may have been automatically refunded.

Not necessarily. It looks like the vesting period for TPS was/is 2 years, so OP's husband didn't qualify for actual pension benefits. However, as he had more than 3 months service he had/still has the option of transferring out to another pension scheme.

A transfer would be preferable to a refund, as the refund would only be his own contributions less tax and NI (ie, employer's contributions would be forfeit).