You have decided to make a career change or take a redundancy offer but can’t help but ask, ‘what happens to my pension benefits?’.

When leaving your job, apart from the small matter of securing your financial future, what to do with your pension benefits is one of the most important things you need to consider. This can be especially so if you and your employer have been diligently contributing to your pension scheme for many years!

Key Points:

• Beware ‘Advisors’ that tell you to move it, without due analysis to ensure it is best for you
• You will have 3 main options for your pension benefits when leaving employment
• You are entitled to an option statement after leaving, it’s important to know what it means
• If it is a good idea to combine multiple older pensions into one scheme