'I’m a pensions pro - millions are due £9,200 windfall in lost retirement cash'
You should get annual statements sent by post to your address.- and how much is in it.Otherwise, you can use theThis lets you search a database of hundreds of thousands of pension scheme contact details to find your provider.The service will tell you who managed your old company's scheme and you will then need to contact them.Retirement may seem a long way off, but keeping control of your pension means you can protect your hard-earned cash.
"These documents contain all the vital information associated with a pension, such as the pension provider’s name, the policy number and any additional benefits the saver may receive upon retirement, such as a guaranteed annuity rate," Romi said.If you switch jobs a lot, you may end up with multiple pension pots - but if you"It is a good habit for savers to find and consolidate old workplace pensions into a personal pension each time they change jobs," Romi said.
"This way their personal pension becomes their 'home' pot, which they will keep until retirement, and they will only ever have to manage this and a current workplace pension." If you are moving an old pot though, do check all the details - older so-called defined benefit pension schemes may have valuable perks that you'll lose if you switch.You should also not be tempted to withdraw money from a pension at too young an age or you could have to pay up to 55% tax on the cash.
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