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    • BLN
    • By BLN 12th May 18, 8:59 PM
    • 2Posts
    • 0Thanks
    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.

Page 1
    • kidmugsy
    • By kidmugsy 12th May 18, 10:14 PM
    • 10,562 Posts
    • 7,233 Thanks
    • #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.
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