Pension has stopped and growth -£1021

I’ve recently changed jobs and therefore my pension stopped with Royal London, what should I do? It has dropped by £1024 in last 12 months?!

Replies

  • El_TorroEl_Torro Forumite
    1.1K Posts
    Eighth Anniversary 1,000 Posts
    Forumite
    You have various options, including:

    Keep paying into it
    Transfer the assets to your new employer’s pension scheme
    Leave it as it is and access the money when you retire. 
    Transfer the assets to your own SIPP.

    If you have a new employer then the likely easiest thing to do is to transfer the pension to their scheme, that way you only have to worry about one pension. It’s not easy to say whether this is the best option for you without more details though. 

    I wouldn’t worry too much about the value of your pension going down in the last 12 months. Most funds have lost money in the last 12 months. 
  • dunstonhdunstonh Forumite
    112K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Forumite
    It has dropped by £1024 in last 12 months?!
    as to be expected during a negative period.  Investments go up in positive periods and down in negative periods.   All quite normal.  Growth years significantly outnumber negative years.

    what should I do?
    a) do nothing
    b) transfer it to your new pension scheme with the new employer.
    c) transfer it to your own individual pension (probably not worth it with that value - its something you tend to do if you are a frequent job mover)




    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • AlbermarleAlbermarle Forumite
    15.6K Posts
    10,000 Posts Fourth Anniversary Name Dropper
    Forumite
    jarv81178 said:
    I’ve recently changed jobs and therefore my pension stopped with Royal London, what should I do? It has dropped by £1024 in last 12 months?!
    That seems a rather small drop. Presumably there is not that much in the pot ? £10K ?
Sign In or Register to comment.
Latest MSE News and Guides

Glitch hits Nectar bonzana

Did you miss out on bonus points?

MSE News

Ask an Expert: Scams

Watch MSE Katie's answers to your questions

MSE Forum

Hot Diamonds 40% off code

Including already-reduced outlet stock

MSE Deals