People leave their jobs for any number of reasons. You might have been made redundant, moved to a new employer, emigrated or left work to look after your children.
Whatever the reason you have left – If you were in prior employment, paid into a pension scheme with that employer and have since left your job you should be asking the question: What happened to my pension?
We meet people on a daily basis who don’t know the answer to that question. They know they have a pension with an old employer but don’t know its value, what it’s invested in or the management charges they pay. If they left the employer in bad circumstances they may be afraid to make contact with their former employer and ask those questions.
You should remember that a company pension set up on your behalf is your pension and its value is held in trust for you.
You may have lost the documentation relating to an old company pension, forgotten about it entirely or might be unaware you had it in the first place. Maybe you assume because you haven’t paid much into an old pension it mustn’t be worth anything. It’s easy to forget that a pension can grow quickly in value and because we sometimes don’t view pensions as a tangible asset we disregard their value. Think of the same scenario with a bank account with €10k in it. You certainly wouldn’t leave that to chance and assume it’ll still be there for you in 30 or 40 years. You’d make sure it was being looked after now.
We offer an extensive service helping people track down their old company pension policies and putting them into their personal name to ensure that they can take full control of them. Once the company pension is in your personal name there are a number of advantages:
- You don’t have to deal with your old employer at all.
- You have full control of the pension and can make your own investment decisions.
- It’s easy to keep track of (including online access).
- You control the management charges you pay.
To find out how we can help you take control of your various pension plans contact [email protected] or 01-4783055 to arrange a free consultation with one of our qualified financial advisers.