What happens to my pension now I have left my previous employer?18 July 2017
You have three options, you can:
- Continue holding the current pension fund in the existing scheme, managing your fund selection as appropriate.
- Transfer to another pension provider.
- Start personal contributions. To do this you may need to transfer your Group Personal Pension to an Individual Personal Pension. Complete a Plan alteration form to do this.
The value of an investment can fall as well as rise and isn’t guaranteed. You could get back less than you originally invested.
Transferring or investing your pension may not be the best option for you, you should compare the benefits from your current pension with the estimated benefits of your new pension, including any guarantees and charges. If you're unsure whether this is right for you or need advice, please speak to a financial adviser.