Consolidating multiple pensions

Bat125

Hi

I had several jobs during my twenties where I only stayed for a year or two. I can’t remember the exact dates I worked at these various companies for and as I say they were for small periods of time. 

Collectively is it worth chasing these multiple very small pots to consolidate them into one of these companies like pension bee?

Also, how do I find the details? To trace them? 

Will they automatically contact me on retirement after 40 odd years for such small pensions contributions?

don’t want to lose them as collectively they could add up to five years or so of pensions???

any advice would be appreciated 

regards. 

Paul. 

Dazed_and_C0nfused

Bat125 said:

Hi

I had several jobs during my twenties where I only stayed for a year or two. I can’t remember the exact dates I worked at these various companies for and as I say they were for small periods of time. 

Collectively is it worth chasing these multiple very small pots to consolidate them into one of these companies like pension bee?

Also, how do I find the details? To trace them? 

Will they automatically contact me on retirement after 40 odd years for such small pensions contributions?

don’t want to lose them as collectively they could add up to five years or so of pensions???

any advice would be appreciated 

regards. 

Paul. 

Have you been keeping the scheme administrator updated with any address changes?  It's not just their responsibility to contact you.

Consolidation can be a good idea.  But if any were defined benefit schemes it's less likely to be a good move (if it's even possible).

What have you done with your paperwork?

Silvertabby

Before 1988 you would have needed at least 5 years membership of each scheme in order to qualify for actual DB pension benefits.

Assuming you were a scheme member in the first place (back then only the public sector and larger private companies tended to offer pensions) and if you paid contributions (some schemes were non-contributory) then the likeliest outcome would have been that you were offered a refund when you left each scheme.

Albermarle

In case you are not sure, you need to fully understand the difference between Defined Benefit ( DB) pension schemes and Defined Contribution ( DC) schemes, as they are totally different.
Pension basics | Help with pension basics | MoneyHelper

As above if any of the pensions were DB schemes and you only worked there a short time, you probably got a refund at the time. For DC schemes, there might still be a small pot on money, although many smaller companies did not offer a pension at all in the past. 

Marcon

Bat125 said:

Hi

I had several jobs during my twenties where I only stayed for a year or two. I can’t remember the exact dates I worked at these various companies for and as I say they were for small periods of time. 

Collectively is it worth chasing these multiple very small pots to consolidate them into one of these companies like pension bee?

Also, how do I find the details? To trace them? 

Will they automatically contact me on retirement after 40 odd years for such small pensions contributions?

don’t want to lose them as collectively they could add up to five years or so of pensions???

any advice would be appreciated 

regards. 

Paul. 

You don't say how old you are now, so 'in your 20s' could be a few years ago or decades ago - please could you clarify, because it impacts heavily on the answer?

As for tracing them - start here: https://www.gov.uk/find-pension-contact-details

Bat125

I am 42. So they would have all been in the year 2000s