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Pension transfer
LEM75
Posts: 1 Newbie
I have recently started a new job and want to know if I should freeze my pension from my old job or transfer to new job. Both jobs are in Local Authorities but my new job pays a lot less than my previous job
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Comments
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Depends on your situation and the scheme rules really.1
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Do you have any pre-2014 LG pension, as that is the part linked to Final Salary?
The post 2014 CARE pension is neither here nor there in terms of your new, lower salary as it is already banked.2 -
Ask the pension scheme administrators for a quote to establish what such a transfer would 'buy' if you transferred it. That gives you a starting point to consider.LEM75 said:I have recently started a new job and want to know if I should freeze my pension from my old job or transfer to new job. Both jobs are in Local Authorities but my new job pays a lot less than my previous job
Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1
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