Managing your pension

Are you approaching retirement? Then, it might be time to manage your pension.

09:04 22 June 2013

Are you one of those people who have no idea how much money you have in your pension so far? Have you accumulated your pension savings from different employers?

Then, this article is for you. Below is some information that you may find useful when managing your pension.

• First order of business; you could call the Future Pension Centre to know how much state pension you’re going to get when you hit retirement.

 

• Talk to your employer and get an update on the progress of the fund. They will usually give you the fund value and a projection of the income you are most likely to receive in retirement.

 

• Contact your previous employers. Write your previous employers a letter and give them as much information as possible so they can give you accurate details.

Give them your National Insurance number, the date when you joined and left the company, etc. Then, ask them to update their records if you have changed address and other contact information.

If you don’t have an idea on how to track down former employers, you could call the Pension Tracing Service to get help.