Keeping documentation from transferred pensions

Qyburn

Hi,

Is there any legal or other good reason to keep documentation for pensions that have been transferred? We're having a bit of a clean out at the moment, and some of our pensions generated a ton of paperwork over the years. As a compromise I was thinking maybe keep the initial account opening documentation, the last statement and any transfer confirmation (for those that sent anything). If we're down to just a few documents I'll scan them so no actual paper kept.  But really is there any need to keep anything at all? Or any reason to keep more than that?

For example is HMRC going to suddenly pop a few years down the line asking for proof of contributions or something?

Thanks

dunstonh

Is there any legal or other good reason to keep documentation for pensions that have been transferred?

No legal reason.  Sometimes it is worth keeping the closing statement for a number of years just in case a discrepancy turns up several years down the road.

HMRC are not interested as transfers don't give rise to taxation.

Qyburn

Thanks. Regarding HMRC I was really thinking them suddenly wanting evidence of contributions I'd made before the transfer. Or is this all reported at the time by the schemes nowadays? I remember the first time I increased my regular contributions into Aviva they wrote asking for evidence, but they haven't done so more recently.

LHW99

The only reason a closing statement can be helpful is that should, in the end, an executor find a reference to a pension (or other investment), if there is no documentation to prove it was closed / withdrawn, they would probably need to contact the original provider to confirm there is nothing that has to be included under the estate. (I have encountered this)