Changed job what should I do with my old pension?

wigglers

Hi guys 
Ive changed job but from my old job I had a Nest employer contributions pension. What's the best thing tu do with it? As it fluctuates I'm not sure if it's worth taking it out and adding it to my new employer pension if i can? As won't they contribute or match what i put in? Or is that only on wages contributions? 

xylophone

my new employer pension 

What kind of pension?

Have you checked on whether or not a transfer in would be accepted?

wigglers

No i haven't checked i wouldn't know, it's a work place pension the one I have had previously with Nest and the one I am being enrolled in with my new employer. I'll have to go through the paper work see if I can find the ts and cs

Marcon

wigglers said:

Hi guys 
Ive changed job but from my old job I had a Nest employer contributions pension. What's the best thing tu do with it? As it fluctuates I'm not sure if it's worth taking it out and adding it to my new employer pension if i can? As won't they contribute or match what i put in? Or is that only on wages contributions? 

They certainly won't match what you transfer in from an existing pension arrangement elsewhere. Whether they match what you put in depends on what your particular employer offers. Yes, they have to contribute something - but the only way to find out what that 'something' is is to read your contract/the particulars of the pension arrangement.

penners324

Who's the new pension company?

3 options
1. Leave it in Nest (get your access login sorted, check what it's invested in)
2. Transfer it to the new pension provider 
3. Transfer it to a different pension provider 

Albermarle

As it fluctuates I'm not sure if it's worth taking it out and adding it to my new employer pension if i can?

Nest is a DC type pension and your money is invested within it. All investments vary in value over time but the very long term trend should be up.

Your new employers pension will most likely be something similar, although with a different provider maybe.

jlfrs01

Not all Employer pension schemes are equal, some may be "closed" so AVCs can only be made via employees' salaries and when the employee leaves they can no longer make contributions. It may be wise to check what sort of scheme your new employer operates so you know what you can and can't do.

I too changed jobs in April, I had a workplace pension with my previous employer and it was invested in NEST. I chose to transfer it to a SIPP I've got with Hargreaves Lansdown where I have more control in what funds its invested in.

wigglers

penners324 said:

Who's the new pension company?

3 options
1. Leave it in Nest (get your access login sorted, check what it's invested in)
2. Transfer it to the new pension provider 
3. Transfer it to a different pension provider 

It's with royal London 

xylophone

It is likely that you will have  greater choice of funds with RL.  

https://www.royallondon.com/pensions/pension-transfers/