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Should I transfer my pension when changing jobs?

When changing jobs, often your workplace pension will be left behind. It will still belong to you, and it will remain invested until you are ready to draw upon it.

If you’re considering a transfer, you should compare the features, benefits, and costs of your current Pension scheme and the potential new pension scheme. Most schemes will allow you to transfer your pension to another provider. However, you should always contact your current provider first to ensure that your pension does not contain valuable guarantees that would be lost on transfer. Speak to a financial adviser if you are uncertain of what the best course of action is.

If you need more information or have any further question, and you are not already a client with True Potential, you can speak to our friendly team on 0191 625 0350 available 7am-8pm weekdays.