Company pension and redundancy

Olive

Registered User
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What happens to your company pension when you leave a job? I am taking redundancy anyone know what happens? Do they pay me some of the money or just freeze it til I can start a new one?
 
Your Pension scheme is a seperate entity to the company. Trustees will hold your fund in its current investment until you tell them what you want to do with it. I'd suggest once you get into new work and they have a decent pension scheme that you transfer it.
 
And if your pension is frozen till you retire or till the company is wound up make sure your old employer is aware of any changes of address so they can contact you if required
 
Please excuse me if this is a silly question, but have you explored what advice is available from your company re options, and what are the credentials of the person providing the advice? It's an important decision for you.
 
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