Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • BLN
    • By BLN 12th May 18, 8:59 PM
    • 2Posts
    • 0Thanks
    BLN
    Changing Jobs - what to do with the work based pension?
    • #1
    • 12th May 18, 8:59 PM
    Changing Jobs - what to do with the work based pension? 12th May 18 at 8:59 PM
    Hello, looking for a bit of advice....

    Over the past 4 years I have had 3 different jobs and as such, have a work place pension from 3 different pension companies. I'm really not sure how it all works - do I keep all 3 companies or do I transfer what is in the two from previous employment into my current one?

    I tried to do this with the first one and was met with confusion first of all from the provider when I contacted them and then a warning that I may not get everything I put in if I transfer.

    If I keep all 3 then I feel it's going to get complicated (I work for the 3rd sector so the possibility of my moving jobs regularly is quite high) so would prefer to put them all together but ave no idea how this all works.

    Any help would be appreciated as I genuinely don't know what to do here.

    Thanks,
Page 1
    • kidmugsy
    • By kidmugsy 12th May 18, 10:14 PM
    • 12,037 Posts
    • 8,490 Thanks
    kidmugsy
    • #2
    • 12th May 18, 10:14 PM
    • #2
    • 12th May 18, 10:14 PM
    You need to tell us what sort of pensions they are. The two main classes are:-

    DB (Defined Benefit) e.g. Final Salary or Career-Averaged: the eventual pension is related to your pay.

    DC (Defined Contribution) i.e. the eventual pension is related to your investment success.
    Free the dunston one next time too.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,701Posts Today

9,953Users online

Martin's Twitter
  • Just sent a text about postgrad loans. My Swype text auto-corrected it to pothead loans. Does it know something I don't?

  • Are you an overdraft prisoner? How to escape it! My new blog on ways to get rid of your overdraft... https://t.co/KbJwbWLFQI

  • RT @bbc5live: .@MartinSLewis joins @annaefoster from midday to answer your money saving questions. ???? 08085 909 693 ???? 85058 Or post your q?

  • Follow Martin