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  • FIRST POST
    • David.973
    • By David.973 14th Aug 19, 12:10 AM
    • 19Posts
    • 7Thanks
    David.973
    Workplace Pension - Going to A New Job
    • #1
    • 14th Aug 19, 12:10 AM
    Workplace Pension - Going to A New Job 14th Aug 19 at 12:10 AM
    So, I have a job interview tomorrow. After doing everything I can to now, I have one thought.

    If I change from one company to another, if they use the same workplace pension provider, can you (or has anybody), had them use your current details for that provider and either had them pay into one pot or, failing that, had a separate pot set up with that provider but linked to it?

    Failing that, can money from an old Workplace Pension be transferred into the pot at the new place? Just to simplify things mostly.

    Iíve been at the company Iím employed by for near enough 4 years (there was a change of ownership last year but itís, essentially, the same company and nothing changed with the Pension then). Itís also the same field Iím potentially going into (actually, Iím going from an outsourcing company to the company that employ their services!)

    Anyway, I thought it best to ask and, should I get the job, Iíll be able to get the ball rolling in my notice period.

    Thanks
Page 1
    • keepcalmandstayoutofdebt
    • By keepcalmandstayoutofdebt 14th Aug 19, 7:53 AM
    • 3,703 Posts
    • 1,948 Thanks
    keepcalmandstayoutofdebt
    • #2
    • 14th Aug 19, 7:53 AM
    • #2
    • 14th Aug 19, 7:53 AM
    If you find your new employer uses the same pension provider then they do find you and send a welcome email - I've had quite a few welcome emails from Nest as I've had a lot of jobs, but all my employment conts are easy to see by each provider and they always find me.

    I've got accounts with Nest, Avvia and one other not so known I think.

    I think there is a transfer option.
    Welcome, you'll be ok here if you want to apply for that job for the 6th time of being rejected, if you don't mind everyone else having rights well above u and if you want to receive far more in compo then ever paid in. And don't lose anything or anyone.
    • Dox
    • By Dox 14th Aug 19, 9:39 AM
    • 1,502 Posts
    • 1,119 Thanks
    Dox
    • #3
    • 14th Aug 19, 9:39 AM
    • #3
    • 14th Aug 19, 9:39 AM
    If you find your new employer uses the same pension provider then they do find you and send a welcome email - I've had quite a few welcome emails from Nest as I've had a lot of jobs, but all my employment conts are easy to see by each provider and they always find me.
    Originally posted by keepcalmandstayoutofdebt
    Not necessarily. True of NEST (where you only ever have one 'pot'), but normally not other so with other providers.

    OP, if all your previous schemes are defined contribution, there is always a transfer option which is simple to arrange by contacting your previous scheme(s). Just check the charges on old schemes and how these compare to any new scheme before you initiate any actual transfers. You can always lump everything together at the point of retirement, if you wish to do so. Meantime just make sure you keep track of all your pensions - and that if you move you let them have your new address.
    • David.973
    • By David.973 15th Aug 19, 4:49 AM
    • 19 Posts
    • 7 Thanks
    David.973
    • #4
    • 15th Aug 19, 4:49 AM
    • #4
    • 15th Aug 19, 4:49 AM
    Thank you both!

    I knew I’d forgotten to ask something at the interview yesterday, who their WPP provider is. Oh well, I can wait until I know if I have the job or not.

    So, let’s see if I have this right: if it’s the same provider, I can have them linked and, if not, I can transfer my own”d to my new?
    Last edited by David.973; 16-08-2019 at 3:50 AM.
    • ceh209
    • By ceh209 15th Aug 19, 7:40 AM
    • 791 Posts
    • 519 Thanks
    ceh209
    • #5
    • 15th Aug 19, 7:40 AM
    • #5
    • 15th Aug 19, 7:40 AM
    Thank you both!

    I knew I’d forgotten to ask something at the interview yesterday, who their WPP provider is. Oh well, 8 can wait until I know if I have the job or not.

    So, let’s see if I have this right: if it’s the same provider, I can have them linked and, if not, I can transfer my own”d to my new?
    Originally posted by David.973
    Not in my experience - had one with Standard Life and moved to a new job which also used Standard Life. They insisted on a new pension being set up, which I then had to request a transfer of the old pot into. They made me agree that I was happy to proceed without 'advice' - which they couldn't give - err it was going to be invested in the same funds and the charges were lower, I don't think I need advice on that!

    Current job has Scottish Widows. I did consider transferring the Standard Life pot into that, but the charges are actually higher (probably as it's a much smaller employer so couldn't negotiate as well as the previous ones)
    Excuse any mis-spelt replies, there's probably a cat sat on the keyboard
    • David.973
    • By David.973 16th Aug 19, 3:52 AM
    • 19 Posts
    • 7 Thanks
    David.973
    • #6
    • 16th Aug 19, 3:52 AM
    • #6
    • 16th Aug 19, 3:52 AM
    Not in my experience - had one with Standard Life and moved to a new job which also used Standard Life. They insisted on a new pension being set up, which I then had to request a transfer of the old pot into. They made me agree that I was happy to proceed without 'advice' - which they couldn't give - err it was going to be invested in the same funds and the charges were lower, I don't think I need advice on that!

    Current job has Scottish Widows. I did consider transferring the Standard Life pot into that, but the charges are actually higher (probably as it's a much smaller employer so couldn't negotiate as well as the previous ones)
    Originally posted by ceh209
    Thanks, Iíll check this out if I get the job too. Still an agonising two weeks until I hear back! Fingers crossed!
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