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Do I Lose My Company Pension if I Change Jobs?

I’ve been at my current employer for a number of years and have built up a pension entitlement, would this be lost if I moved to a different company?

Question asked by Jean Goodwin

No. Pension benefits held in a final salary scheme are protected by the Scheme Rules and Government legislation. Therefore, the pension benefits you’ve built up by the time you leave the company will at least receive statutory increases until you retire.

If you hold a money purchase personal pension, the pension fund is held in your own name and will potentially continue to accumulate depending on the underlying assets of the fund. However, employer contributions into your pension pot will stop.

You can transfer a defined contribution pension to a new pension fund if you move employers.

If you have a number of different pensions from previous employers it can often make a lot of sense to consider pension consolidation. Please contact us for further information.

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Our purpose is simple: Improve your financial wellbeing. We use technology to bring your financial future to life and provide a visual plan of where you are today, where you want to go and what's necessary to achieve this.

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Pension Pot Calculator

Pension Pot Calculator

How much will your pension be worth when you retire? Use our Pension Calculator to work it out and get a free copy of our Guide to a Richer Retirement.

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Pension Drawdown Calculator

Pension Drawdown Calculator

When will your income drawdown pension run out? Enter the anticipated size of your pension pot at retirement and follow these easy steps to calculate how long your pension will last.

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Final Salary Calculator

Final Salary Pensions Transfer Calculator

Find out how much your final salary pension might be worth in today's money if you considered accepting a cash equivalent transfer value from your scheme.

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Millennium Bridge House
2 Lambeth Hill
London
EC4V 4GG
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Telecom House
125-135 Preston Road
Brighton
BN1 6AF
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