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Confused
Bryando
Posts: 1,464 Forumite
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?
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?
0
Comments
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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).0 -
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.0
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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?0
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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.0
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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.0
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