Financial security in your mid-thirties

Pizza_the_Action

Cashmygiro said:

I was going to switch an old workplace pension worth about £7K to PensionBee once but I was warned that it would end up being worth less if I did so I left it where it is, with the original provider.

My two were only worth around £2,500; one I wouldn't have been able to pay into since I was not working for the company anymore, the other was one I could change to a personal pension from a workplace pension but it was a really time consuming process - PensionBee was so simple.  

Cashmygiro

Pizza_the_Action said:

Cashmygiro said:

I was going to switch an old workplace pension worth about £7K to PensionBee once but I was warned that it would end up being worth less if I did so I left it where it is, with the original provider.

My two were only worth around £2,500; one I wouldn't have been able to pay into since I was not working for the company anymore, the other was one I could change to a personal pension from a workplace pension but it was a really time consuming process - PensionBee was so simple.  

I don't know the differences around personal pensions and workplace pensions but it was started just before my employer started doing the pensions for everyone by law as I had opted into it myself. I no longer work for this employer and left them over 4 years ago.

badmemory

I think as your circumstances appear to be fairly niche & I have never seen mentioned on here before, I would wonder if you have someone like maybe a seafarers union who may actually be able to help you with more specific advice.

Pizza_the_Action

badmemory said:

I think as your circumstances appear to be fairly niche & I have never seen mentioned on here before, I would wonder if you have someone like maybe a seafarers union who may actually be able to help you with more specific advice.

Thanks, I have an accountant but am thinking of switching to an accountant that is a specialist for seafarers for this reason as there are many times when I need more specific advice. 

MEM62

Pizza_the_Action said:

MEM62 said:

Pizza_the_Action said:

No workplace pension - I work for a company not based in the U.K. 

You are not based in the UK or they are not based in the UK?  

They are not based in the UK.

That does not relieve them of their obligation to provide you with a company pension.  As far as I understand the rules your employer must auto-enrol staff if "the worker is working or ordinarily works in the UK under their contract".  Therefore, you should ask your employer to setup a workplace pension for you.  

Pizza_the_Action

MEM62 said:

Pizza_the_Action said:

MEM62 said:

Pizza_the_Action said:

No workplace pension - I work for a company not based in the U.K. 

You are not based in the UK or they are not based in the UK?  

They are not based in the UK.

That does not relieve them of their obligation to provide you with a company pension.  As far as I understand the rules your employer must auto-enrol staff if "the worker is working or ordinarily works in the UK under their contract".  Therefore, you should ask your employer to setup a workplace pension for you.  

Just to clarify, I don't work in the UK.

I am resident in the UK for tax purposes and live here when home.
The company are not based in the UK.
I work at sea on ships, not in the UK.