Please note: The Auto-enrolment sub-board is now closed. If you have a question around pensions, please post in the Pensions, Annuities and Retirement Planning board.

Confused

Bryando
Bryando Posts: 1,464 Forumite
edited 10 April 2017 at 8:19PM in Auto-enrolment
Hi,

My company have postponed auto-enrolment for three months. But I can join the company one. At a loss frankly!
NEST is the provider....
If I move job which is highly likely as dread to think of working for one employer! Does every contribution go into the same pot or will me getting a new job mean the previous stops and a new pot starts?

Comments

  • JoeCrystal
    JoeCrystal Posts: 3,001
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    Hi Bryando,

    It might be better for you to post on the main Pension forum as this sub forum is hardly looked at or indeed responded to. As for your question, yes, when you work for new employer, you will generally have another pension pot to pay into (depending on the nature of the employer of c).
  • LHW99
    LHW99 Posts: 4,135
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    However it appears NEST now allows transfers out, so your fund could be transferred either into a new employers scheme when you move, if allowed, or into a stand alone personal pension.
  • Bryando
    Bryando Posts: 1,464 Forumite
    Then surely if I have one pot but need to set up another its only worth opening a pot if staying with the same empoyer?
  • JoeCrystal
    JoeCrystal Posts: 3,001
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    There is nothing wrong with having many pots, what counts are the total value of the pots. I am assuming that your employer contribute into this pension pot, if so, then you will be a fool not to take advantage of free money.
  • AnotherJoe
    AnotherJoe Posts: 19,622
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    edited 19 June 2017 at 3:40PM
    Bryando wrote: »
    Then surely if I have one pot but need to set up another its only worth opening a pot if staying with the same empoyer?

    Nope. Money is still money. Doesn't matter how many pots it's in though I think people will end up transferring their previous pension to a personal pension or their new employers, each time they move jobs, so they only end up with 2 pots.
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