Automatic transfers consolidating pension savings Free no credit card hook up
Note: This guide doesn't apply to final salary schemes where your wage and length of company service determine your retirement income - for basic info go to the Different pension types section.
the level required by the automatic enrolment legislation will need to stay in post for less than five years before his pot exceeds the GBP 10,000 limit (leaving aside inflation, investment returns and fees).It is believed that the average worker works for 11 employers in the course of her career.One potential consequence of this is that an individual can accumulate a series of separate, stranded pension pots which it is difficult to keep track of.The legislation will apply only to defined contribution (money purchase) pension rights.
Workers with defined benefit (final salary) pensions will be unaffected.
Clyde & Co Comment There has been some debate in the pensions industry as to whether or not it is advisable for the Government to bring forward these proposals, and they have received a mixed reception from bodies ranging from the CBI to the TUC.