Pension checklist for changing job
By Kirsten Hastings, 12 Jun 18
It can be easy to forget about pension benefits when you are swept up in the excitement and stress of changing job. But as workplace pensions can be very generous, it pays to keep on top of any pots that have been built up, says Fidelity International’s Ed Monk.
Check the investment mix
“Your pension pot is put into various types of investments, including shares, and your pot at retirement is based on how much has been paid in and how well the investments have performed, less any charges,” Monk continued.
“There may be a choice about how your money is invested. Check your scheme to make sure yours is invested in line with your aims and attitude to risk.”
Tags: Fidelity | Lifetime Allowance | MPAA | Pension
Christopher Lean says:
Given that many will have deferred pensions in DB schemes, which are not “pots”, I am surprised that they are not mentioned in this checklist. Given the occupational pension rules pre 2006 and pre 1987, be very careful of consolidating ( leaving the issues of giving up DB g’tees aside ).